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TOKYO, June 1 Asia Pulse - The Nikkei Commodity Price Index stood at 150.488 on Wednesday, up 8.7 per cent from the beginning of the year, buoyed by brisk domestic demand and rising international prices.
The rise is approaching the total for the whole of 2005, when it reached 9.1 per cent. Of the nine component indexes, nonferrous metals jumped 37.4 per cent and petroleum products were up 8.5 per cent.
The rise in the nonferrous index was triggered by booming demand worldwide. Speculative funds flowing into the London Metal Exchange, the world's largest market for options and futures contracts on copper and other metals, pushed prices up. This caused domestic prices to surge.
The price of copper strips used as semiconductor components has soared some 50 per cent since the beginning of ...
Source: HighBeam Research, NIKKEI COMMODITY PRICE INDEX UP 8.7 PCT ON-YEAR.