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Copper nearing $10,000 a tonne

Copper hit a record high yesterday, nearing $10,000 a tonne on data suggesting the global recovery is picking up speed as well as supply concerns and a weaker US dollar.

The benchmark copper contract for delivery in three months on the London Metal Exchange closed at $9,945 a tonne, up from $9,745 at Monday's close. The metal, which is used extensively in the power and construction industries, earlier hit a record $9,955.