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Monday, April 23, 2007

News You Can Use for Monday

China's Copper Imports More Than Double in March as Building Demand Gains China, the world's biggest consumer of copper, more than doubled imports of the metal in March as the peak demand period for the construction industry began.

Gasoline at $4 Coming to a Pump Near You, Unfazed by Surging U.S. Prices Whether it's $50 to fill up your Prius or $130 for the Ford Expedition, $4-a-gallon gasoline is coming to a pump near you.

Pakistan May Build Gas Pipeline to China, Seek More Investment, Aziz Says Pakistan is considering a plan to build a natural gas pipeline from the Arabian Sea to China, Prime Minister Shaukat Aziz said, a sign of deepening relations between the two countries in trade, investment and energy cooperation.

Paulson May Be Unable to Deter China, U.S. From Collision Course Over Yuan When China allowed a small rise in the value of its currency in 2005, Hangzhou food-company executive Wang Yuzhou saw his profits squeezed. Any further move threatens the livelihoods of his 1,000 workers and the 5,000 rural households that supply his plants, he says.

Japan's Debt Rating Raised by Standard & Poor's for First Time Since 1975 Japan's debt ratings were raised one level to AA, the third-highest grade, by Standard & Poor's after the government cut borrowing and nursed a recovery in corporate earnings.

Uranium prices surge as demand seen rising, supply crunch Two years ago the metal, used mostly to power nuclear reactors, traded around $20 a pound, according to the research firm Ux Consulting Co., which tracks uranium prices in the market by surveying buyers and sellers each week. Last week prices hit $113 a pound and the pace of increase isn't slowing but rather accelerating. Last week's prices were up 19 percent jump from the prior week - the biggest weekly gain since Ux began tracking prices back in 1968. "You haven't had a down week since 2003," said Christopher Ruppel, a senior geopolitical analyst with the energy consulting firm John S. Herold.

China plans uranium strategic reserve to back its nuclear power sector China's Commission of Science Technology and Industry for National Defense said China plans to set up a national uranium strategic reserve to ensure that its nuclear industry is backed by a stable and reliable fuel supply.

Gold Falls From 11-Month High in London as Dollar Rebounds; Silver Drops Gold fell from an 11-month high after the dollar gained against the euro, eroding investor demand for the precious metal as an alternative investment. Silver also declined. [XX Sean’s note – I find it interesting that the US dollar and gold seem to trading in synch lately – going up and down at the same time in the same direction]

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