Copper Average Price Will Jump 22% to $9,200 This Year

Bloomberg reports that according to Standard Bank Plc., the average copper price will climb 22 percent this year.

The market news is quoted as saying:

The metal will average $9,200 a metric ton this year, Leon Westgate, a London-based analyst at Standard Bank, said in a report today. That compares with an average of about $7,557 in 2010. The price will rise to an average $10,000 in 2012, the bank said. Copper for delivery in three months fell 1 percent to $9,321 a ton today on the London Metal Exchange.

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