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Copper prices fell away during late Friday trading on the London Metal Exchange (LME), hit by selling on the last business day of 2005 to finish lower.

Other metals also gave back some of their intra-day gains - zinc and aluminium had been around fresh cycle highs earlier - but most of the complex finished the year on an upbeat note.

"Copper has been subject to profit-taking, but we've seen good buying in zinc and aluminium. It is not all technical, either, the trade have been on both sides of the market," a trader said.

Zinc stood out, hitting fresh 16-3/4-year highs of $1,925 a tonne as prices broke conclusively above $1,900, before ending at $1,905, still up $22. Year-on-year zinc was up 53 percent.

Copper was pressured down to $4,395, a loss of $47 on the day, having retraced from the $4,512 fresh all-time high hit on Wednesday. However, copper's gains this year have been substantial - up 39.5 percent.

Wider supply concerns continued to cushion the market, which has over-exceeded many expectations as forecasts of a second-half deficit proved unfounded.

On Thursday contract workers at Codelco launched protests to demand a bonus pegged to soaring copper prices, but stopped short of a national strike.

Workers said they would organise national strikes early next week if the state-owned company did not agree to pay them a bonus to reflect prices hitting repeated records.

Aluminium ended at $2,276, down $4, but earlier neared the $2,290 17-year peak hit on Wednesday, having put on 16 percent this year.

Lead was $4 lower at $1,051, but has added five percent this year. Nickel was $150 higher at $13,500, but overall this year has eased nine percent.

Tin was at $6,475, against a previous $6,625. Like nickel, this metal has not been part of the commodity boom and has shed 17 percent this year.

Copyright Reuters, 2005


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