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LME, COMEX copper hit record highs; 41-month peak on Shanghai
Thu Dec 30, 2010 6:10am GMT

SINGAPORE Dec 30 (Reuters) - Copper prices in London and New York surged to record highs on Thursday, while Shanghai futures rallied above 70,000 yuan to its highest in more than three years, powered by worries about supplies going into 2011 and buying by holders of strong Asian currencies.

By 0607 GMT, copper for delivery in three months on the London Metal Exchange stood at $9,539 a tonne, up from $9,400 on Wednesday.

COMEX copper HGc3 hit a record of 437.50 cent/lb, while Shanghai SCFc3 took out last week's 70,000 yuan 33-month peak when it hit 70,660 yuan.

"There is a little bit of buying from Japan. It's a holiday there, but they left some orders with us to take advantage of the stronger yen," a trader in Sydney said. (Reporting by Nick Trevethan; Editing by Himani Sarkar)