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Early US copper drops to a 9-month low below $3/lb

Mon Sep 29, 2008 7:55am EDT

NEW YORK, Sept 29 (Reuters) - The price of copper broke below $3.00 per lb in New York futures trade early Monday as jittery investors sold amid waning confidence in the global economy and growing anxieties ahead of a Congressional vote on the U.S. $700 billion financial rescue plan.

In early business, copper for December delivery HGZ8 fell as low as $2.9515 a lb on the New York Mercantile Exchange's COMEX division, the contract's cheapest since Dec. 19. (Reporting by Chris Kelly; Editing by John Picinich)



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