LME Copper dropes as US stimulus hopes fade
London Metal Exchange (LME) copper fell on Friday, largely tracking a volatile euro versus the dollar, but cut its losses later in the day on hopes that European policymakers were perhaps gaining an upper hand in containing the region's long-standing debt problem.
LONDON (Scrap Monster): London Metal Exchange (LME) copper fell on Friday, largely tracking a volatile euro versus the dollar, but cut its losses later in the day on hopes that European policymakers were perhaps gaining an upper hand in containing the region's long-standing debt problem.
Aluminium alloy also traded lower on LME market on Friday, which declined by 0.56% to $1755 a metric ton.
Except copper and aluminium alloy, all other metal prices showed a positive trend on Friday. LME tin, which hit $20,069 in the previous session, its highest since May 7, advanced by 2.29% to $20315 per metric ton on Friday.
LME Price Highlights:
--Aluminium alloy declined 0.56% to $1755 a metric ton
--Aluminium advanced 0.51% to $1870.50 per metric ton
--Copper fell 0.87% to $7600 a metric ton
--Lead rose 1.04% to $1941 per metric ton
--Nickel advanced 1.82% to $16425 per metric ton
--Tin gained 2.29% to $20315 per metric ton
--Zinc rose 0.38% to $1836 a metric ton
--Steel advanced 2.94% to $350 per metric ton
The LME metal prices in US $ per metric ton as on August 24, 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 | 1755.00 | 1870.50 | 7600.00 | 1941.00 | 16425.00 | 20315.00 | 1836.00 | 350.00 |
Cash seller | 1760.00 | 1871.50 | 7600.50 | 1942.00 | 16430.00 | 20320.00 | 1836.50 | 350.50 |
3 M buyer | 1770.00 | 1901.00 | 7616.00 | 1951.00 | 16545.00 | 20345.00 | 1858.00 | 360.00 |
3 M seller | 1780.00 | 1901.50 | 7617.00 | 1951.50 | 16550.00 | 20350.00 | 1859.00 | 370.00 |
Scrap Metal Prices
Copper Scrap | ||
Alternator | 0.32 | $US/Lb |
#1 Copper Bare Bright | 3.72 | $US/Lb |
Aluminum Scrap | ||
356 Aluminum Wheels (Clean) | 0.73 | $US/Lb |
6061 Extrusions | 0.64 | $US/Lb |
Steel Scrap | ||
#1 Bundle | 460.00 | $US/MT |
#1 Busheling | 480.00 | $US/MT |
Electronics Scrap |