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Copper hits 2-year high above $10,000 on China squeeze

Supply concerns hang over market for vital industrial metal

China accounts for more than half of global copper consumption.   © Reuters

TOKYO -- Copper prices rose the highest in two years Friday amid signs of a tighter supply-demand relationship in China, the world's largest consumer of the metal.

Three-month copper futures on the London Metal Exchange briefly topped $10,000 a tonne. The red metal used in everything from homes to electric vehicles is up roughly 20% this year.

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