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Fall in copper price prompts exit

INVESTORS dumped copper stocks last week after the copper price fell amid increasing supplies and fears that the slowing US housing market would dampen demand. On Thursday night, the copper price slipped 2.2 per cent to US$5,697 a tonne, extending losses for the week to 8 per cent. Copper-focused stocks took a dive with Fox Resources down 4.7 per cent, or 8 cents to $1.67 and Marengo Mining down 1 cent, or 4.7 per cent to 20.5 cents. Trafford Resources was 1.4 per cent lower at 35 cents, while Aditya Birla Minerals eased 3 cents to $2.02.

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