LME Copper rises on China demand prospects
Metal Recycling News | 2012-09-28 04:13:20 | By Paul Ploumis
London Metal Exchange (LME) copper edged up on Thursday from two-week lows hit in the previous session, supported by traders betting on a fourth-quarter recovery in Chinese demand, though an upcoming holiday and simmering concerns over Europe's debt crisis capped gains.
LONDON (Scrap Monster): London Metal Exchange (LME) copper edged up on Thursday from two-week lows hit in the previous session, supported by traders betting on a fourth-quarter recovery in Chinese demand, though an upcoming holiday and simmering concerns over Europe's debt crisis capped gains.
Copper product makers in top metals consumer China, where demand is expected to improve modestly in the fourth quarter, are getting their books in order before a week-long holiday beginning on Monday that is likely to pare volume and direction from the market.
LME copper advanced slightly by 0.52% to $8173 a metric ton on Thursday form $8130 previously.
LME Price Highlights:
--Aluminium alloy declined 0.55% to $1974 a metric ton
--Aluminium rose 0.95% to $2067.50 per metric ton
--Copper rose 0.52% to $8173 a metric ton
--Lead decreased 0.33% to $2265 per metric ton
--Nickel advanced 1.25% to $18150 per metric ton
--Tin fell 0.21% to $220945 per metric ton
--Zinc declined 0.77% to $2051.50 a metric ton
– Steel declined 1.44% to $340 per metric ton
The LME metal prices in US $ per metric ton as on September 27, 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 | 1974.00 | 2067.50 | 8173.00 | 2265.00 | 18150.00 | 20945.00 | 2051.50 | 340.00 |
Cash seller | 1974.50 | 2068.00 | 8175.00 | 2265.50 | 18155.00 | 20950.00 | 2052.00 | 345.00 |
3 M buyer | 1960.00 | 2095.50 | 8172.00 | 2273.00 | 18225.00 | 20870.00 | 2081.00 | 340.00 |
3 M seller | 1961.00 | 2096.00 | 8173.00 | 2274.00 | 18230.00 | 20875.00 | 2081.50 | 350.00 |