LONDON (Scrap Monster): London Metal Exchange (LME) copper ended higher for the third straight session on Tuesday, hitting four-month highs as the dollar fell and investors remained hopeful that the U.S. Federal Reserve and the European Central Bank would launch new stimulus measures soon.
Copper prices in London sustained Tuesday's close above $8,000 per tonne, as investors bet on a favorable German ruling on the euro zone's bailout fund on Wednesday and on additional stimulus from the Fed when it concludes a two-day policy meeting on Thursday.
All other metal prices also continued positive trend on LME market on Tuesday except lead, which declined by 0.75% to $2101 per metric ton.
LME Price Highlights:
--Aluminium alloy rose 1.33% to $1900 a metric ton
--Aluminium advanced 1.2% to $2056 per metric ton
--Copper advanced 0.59% to $8079.50 a metric ton
--Lead declined 0.75% to $2101 per metric ton
--Nickel rose 0.6% to $16620 per metric ton
--Tin gained 2.22% to $20700 per metric ton
--Zinc advanced 0.66% to $1976 a metric ton
– Steel rose 1.56% to $320 per metric ton
The LME metal prices in US $ per metric ton as on September 11, 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 |
1900.00 |
2056.00 |
8079.50 |
2101.00 |
16620.00 |
20700.00 |
1976.00 |
325.00 |
|
Cash seller |
1910.00 |
2058.00 |
8080.00 |
2101.50 |
16625.00 |
20725.00 |
1976.50 |
335.00 |
|
3 M buyer |
1920.00 |
2065.00 |
8079.00 |
2115.50 |
16665.00 |
20685.00 |
2003.00 |
340.00 |
|
3 M seller |
1930.00 |
2065.50 |
8080.00 |
2116.00 |
16670.00 |
20690.00 |
2004.00 |
350.00 |
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