copper chart, page-2

agree....copper looking very strong....

UPDATE 5-Copper rallies through $8,000/T, tin at new high
Tue Jul 31, 2007 5:34 PM BST


LONDON, July 31 (Reuters) - Stronger equity and credit markets and a strike in Mexico helped copper prices rally through $8,000 a tonne on Tuesday.

Lead surged by 7.5 percent and tin hit a fresh record high.


"Some limited semblance of order returned to credit and equity markets, driving the performance in metals markets," John Reade, analyst at UBS, said.

European shares gained in a broad-based rally, after a five-day losing run with London-listed miners like Rio Tinto (RIO.L: Quote, Profile , Research), BHP Billiton (BLT.L: Quote, Profile , Research) and Anglo American (AAL.L: Quote, Profile , Research) rising around 5 percent.

The contract for copper, which is used in the power and construction industries, for delivery in three months on the London Metal Exchange rose to $8,005, up $180 from Monday. Earlier, it hit a session high of $8,029.75.

Traders said a strike at Grupo Mexico's (GMEXICOB.MX: Quote, Profile , Research) giant Cananea copper mine in northern Mexico helped copper. Continued...