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Thursday, September 11, 2008

UPDATE

COPPER MARKET UPDATE FOR 10 SEPT

U.S. copper futures ended up for the first time in five sessions

Wednesday after a reduced production outlook from a top producer

and an earthquake in northern Chile reignited some fears of a supply

short-fall.

Copper for December delivery HGZ8 settled up 2.70 cents at $3.1140

a lb on the New York Mercantile Exchange's COMEX division.

* The session range widened to $3.1440 to $3.04, the contract's

lowest level since Jan. 23.

* Spot September HGU8 gained 2.85 cents to close at $3.1235.

* COMEX estimated final futures volumes at 19,210 lots, compared

with Tuesday's official count at 16,003 lots.

Open interest edged up 31 lots to 76,798 contracts open as of Sept. 9.

Copper up in a late short-covering rally on news of a powerful 5.8

magnitude earthquake in northern Chile, home to the country's large


copper mining areas.

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