LME Copper slips, Nickel remains positive
Metal Recycling News | 2012-09-18 05:42:13 | By Paul Ploumis
London Metal Exchange (LME) copper edged down slightly on Monday after steep gains in the previous session, although prices did not stray too far from a 4-1/2 month top as a new round of U.S. monetary stimulus measures and a weak dollar continued to support sentiment.
LONDON (Scrap Monster): London Metal Exchange (LME) copper edged down slightly on Monday after steep gains in the previous session, although prices did not stray too far from a 4-1/2 month top as a new round of U.S. monetary stimulus measures and a weak dollar continued to support sentiment.
Aluminium and lead prices also moved down on LME market on Monday, both ended at $2161.50 per metric ton (mt) and $2242.50/ mt, respectively.
Meanwhile, LME nickel set a fresh four-and-a-half-month high at $17,975 and ended at $17950/ mt on Monday, up 2.45% from the pre-weekend close.
LME Price Highlights:
--Aluminium alloy rose 3.52% to $2058 a metric ton
--Aluminium declined 0.68% to $2161.50 per metric ton
--Copper declined 1.27% to $8292.50 a metric ton
--Lead dipped 0.02% to $2242.50 per metric ton
--Nickel gained 2.45% to $17950 per metric ton
--Tin rose 1% to $21625 per metric ton
--Zinc advanced 0.89% to $2053.50 a metric ton
– Steel remain unchanged at $320 per metric ton
The LME metal prices in US $ per metric ton as on September 17, 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 | 2058.00 | 2161.50 | 8292.50 | 2242.50 | 17950.00 | 21625.00 | 2053.50 | 320.00 |
Cash seller | 2059.00 | 2162.00 | 8293.00 | 2243.00 | 17955.00 | 21630.00 | 2054.00 | 325.00 |
3 M buyer | 2080.00 | 2167.00 | 8311.00 | 2250.00 | 18015.00 | 21550.00 | 2085.00 | 320.00 |
3 M seller | 2090.00 | 2168.00 | 8312.00 | 2251.00 | 18025.00 | 21575.00 | 2086.00 | 330.00 |