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Copper strikes new record high

          LONDON, Oct 22 (AFP): World oil prices struck a three- month low point in New York this week on easing supply concerns, while strong Chinese demand helped copper reach 4,000 dollars per tonne for the first time.
The Commodities Research Bureau's index of 17 commodities fell to 321.54 points Friday from 324.31 points the previous week.
GOLD: Gold prices fall came after jumping 9.0 per cent in three months to reach an 18-year high of 480.49 dollars at the start of the previous week.
On the London Bullion Market, gold prices fell to 462.85 dollars per ounce at the late fixing Friday from 469.50 dollars the previous week.
SILVER: Silver prices dipped after reaching the highest level for almost a year.
Gold's sister metal reached 7.86 dollars per ounce at Monday's fixing, the highest level since December 7, 2004, but later fell on profit-taking.
On the London Bullion Market, silver prices eased to 7.60 dollars per ounce at the late fixing Friday from 7.67 dollars the previous week.
PLATINUM AND PALLADIUM: Palladium rose to 213 dollars per ounce at Monday's fixing, the highest point since November 26, 2004.
On the London Platinum and Palladium Market (LPPM), an ounce of platinum climbed to 925.50 dollars per ounce at the late fixing Friday, from 924 dollars the previous week.
Palladium climbed to 208 dollars per ounce, from 205 dollars.
BASE METALS: On Thursday, three-month copper prices on the London Metal Exchange (LME) hit 4,015 dollars per tonne-the highest price for the metal since it was first quoted in its current form in 1870.
By Friday, three-month copper prices on the LME rose to 3,856 dollars per tonne from 3,828.50 dollars the previous week. Three- month aluminium prices dipped to 1,928.50 dollars per tonne from 1,933 dollars.
Three-month nickel prices fell to 11,925 dollars per tonne from 12,295 dollars.
Three-month lead prices dropped to 955 dollars per tonne from 966 dollars.
Three-month zinc prices decreased to 1,473 dollars per tonne from 1,490 dollars.
Three-month tin prices slid to 6,400 dollars per tonne from 6,525 dollars.
OIL: The price of crude dropped below 60 dollars per barrel to reach three- month low points in New York Friday.
New York's main contract fell to 59.31 dollars, the lowest level since late July and 16 per cent below the historic high of 70.85 dollars on August 30.
In New York, a barrel of crude for delivery in December slumped to 59.31 dollars from 61.99 dollars.
RUBBER: On TOCOM, Tokyo's commodity exchange, natural rubber for December delivery dipped to 193.50 yen Friday, from 198.90 yen a week earlier.
Singapore's RSS 3 December contract decreased to 167.25 cents Friday, from 171.00 cents the previous week.
COCOA: Cocoa prices lost ground this week in the face of strong African harvest forecasts for the 2005/2006 season.
On the New York Board of Trade (NYBoT), the December contract decreased to 1,365 dollars per tonne Friday, from 1,408 dollars.
COFFEE: On the LIFFE, Robusta quality for January delivery jumped to 969 dollars per tonne on Friday, from 953 dollars a week earlier.
On the NYBoT, Arabica for December delivery stood at 105.90 cents per pound, from 98.70 cents.
SUGAR: Sugar futures steadied. In New York, the price of unrefined sugar for March delivery reached 11.91 cents on October 4, a level last seen in January 1998.
On the NYBot, the price of unrefined sugar for March delivery stood at 11.76 US cents Friday, from 11.68 cents a week before.
GRAINS AND SOYA: Grains and soya prices retreated further on forecasts of bumper crops. On the LIFFE, the price of a tonne of wheat for November delivery fell to 68 pounds late Friday, from 69.70 pounds a week earlier.
Maize for December delivery eased to 201 cents per bushel Friday, from 202.25 cents.
Soyabeans for November delivery slipped to 573.50 cents per bushel Friday, from 590 cents.
December-dated soyabean meal-used in animal feed-sank to 168.90 dollars per tonne, from 177.60 dollars.
COTTON: Cotton prices have lost 4.5 per cent since striking 57.80 cents on October 13, the best value since June 2004.
On the New York Cotton Exchange (NYCE), the December contract declined to 53.30 US cents per pound Friday, from 55.45 cents a week earlier.
WOOL: The Australian Eastern index edged up to 6.72 Australian dollars per kilo Thursday from 6.71 last week. It fell to 6.70 on October 6 -- the lowest point since March 2000.
The British Wooltops index remained at 403 pence Thursday, unchanged from the previous week.


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