LME Copper declines after weak China, euro zone data
Metal Recycling News | 2012-09-21 07:07:50 | By Paul Ploumis
London Metal Exchange (LME) copper declined on Thursday after data from top consumer China showed manufacturing activity continued to contract, while prices came under more pressure as a poor reading from France pushed the euro down against the dollar.
LONDON (Scrap Monster): London Metal Exchange (LME) copper declined on Thursday after data from top consumer China showed manufacturing activity continued to contract, while prices came under more pressure as a poor reading from France pushed the euro down against the dollar.
Manufacturing in China contracted for an 11th month in a row in September, according to a private sector survey of factory managers that indicated the world's second largest economy remains on track for a seventh quarter of slowing growth.
Steel is the only metal showed a positive trend on LME market on Thursday, rose by 1.53% to $325 per metric ton.
LME Price Highlights:
--Aluminium alloy declined 1.48% to $1995 a metric ton
--Aluminium declined 1.31% to $2095 per metric ton
--Copper declined 1.47% to $8200 a metric ton
--Lead dipped 1.93% to $2227 per metric ton
--Nickel declined 1.01% to $17595 per metric ton
--Tin declined 4.41% to $20550 per metric ton
--Zinc dipped 1.73% to $2068 a metric ton
– Steel rose 1.53% to $325 per metric ton
The LME metal prices in US $ per metric ton as on September 20, 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 | 1995.00 | 2095.00 | 8200.00 | 2227.00 | 17595.00 | 20550.00 | 2068.00 | 330.00 |
Cash seller | 1995.50 | 2096.00 | 8202.00 | 2229.00 | 17600.00 | 20575.00 | 2068.50 | 335.00 |
3 M buyer | 2015.00 | 2110.00 | 8215.00 | 2236.50 | 17625.00 | 20525.00 | 2098.00 | 335.00 |
3 M seller | 2025.00 | 2111.00 | 8220.00 | 2237.00 | 17650.00 | 20550.00 | 2099.00 | 345.00 |