Copper keeps going up

From: http://business.globaltimes.cn/china-markets/2011-04/647533.html

Copper on the Changjiang Nonferrous Metals Trading Market, a major spot metals market in Shanghai, traded Thursday at an average price of 71,825 yuan ($11,018) per ton, up 425 yuan ($65.19) from the previous day.

I think they mean metric ton, which is 2,204.62 lbs or 1,000 kilograms. If that is correct, then the price is right at $5.00/lb.

The Comex price is $4.34 (see http://www.metalprices.com/FreeSite/metals/cu/cu.asp).