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Monday, April 10, 2006

Copper, Zinc and Nickel Prices Soaring on Futures Markets

Copper for three month deliery rose 3.2% to $5910 a metric ton, up $185. Zink jumped $100 or 3.6% to $2911 a metric ton. Nickel up 3.4% to $17650 a ton, its highest level since March 1989. Gold furtures also gained $9.50 or 1.5% to close at 601.80 an ounce.

China's economy expanded at 9.9% last year. the booming economies of China and India continue to increase the demand for raw materials. The IMF has said they may raise their forecast for global econcomic growth to 4.9%.

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