LME Copper hits 4-1/2 month high
Metal Recycling News | 2012-09-20 04:34:32
London Metal Exchange (LME) copper prices closed higher on Wednesday after touching a fresh 4-1/2 month high, supported by a surprise decision from the Bank of Japan (BOJ) to further ease its monetary policy.
By Paul Ploumis
LONDON (Scrap Monster): London Metal Exchange (LME) copper prices closed higher on Wednesday after touching a fresh 4-1/2 month high, supported by a surprise decision from the Bank of Japan (BOJ) to further ease its monetary policy.
Recent accommodative policy moves by the U.S. Federal Reserve, the European Central Bank and now Japan's central bank are seen as a near-term buffer of support for copper and other base metal markets, but concerns persist that these measures will not necessarily boost physical demand.
LME Price Highlights:
--Aluminium alloy rose 1.75% to $2025 a metric ton
--Aluminium declined 1.34% to $2123 per metric ton
--Copper advanced 1.21% to $8322.50 a metric ton
--Lead rose 1.7% to $2271 per metric ton
--Nickel declined 0.11% to $17775 per metric ton
--Tin advanced 0.93% to $21500 per metric ton
--Zinc advanced 2.7% to $2104.50 a metric ton
– Steel rose 2.2% to $325 per metric ton
The LME metal prices in US $ per metric ton as on September 19, 2011. The figures in brackets refer to prices that prevailed on the previous day.
Metals | Aluminium Alloy | Aluminium | Copper | Lead | Nickel | Tin | Zinc | Steel |
Cash buyer | 2025.00 | 2123.00 | 8322.50 | 2271.00 | 17775.00 | 21500.00 | 2104.50 | 325.00 |
Cash seller | 2035.00 | 2124.00 | 8323.00 | 2271.50 | 17780.00 | 21550.00 | 2105.00 | 327.00 |
3 M buyer | 2045.00 | 2140.00 | 8330.00 | 2281.00| | 17830.00 | 21500.00 | 2134.00 | 335.00 |
3 M seller | 2055.00 | 2140.50 | 8330.50 | 2281.50 | 17840.00 | 21505.00 | 2135.00 | 345.00 |
