LME Copper advances on Spain relief
Metal Recycling News | 2012-10-01 04:04:44 | By Paul Ploumis
London Metal Exchange (LME) copper rose on Friday after Spain moved to buttress its economy, but was on course for its second weekly loss in a row as the impact of central bank easing fizzled and concerns over Chinese demand weighed ahead of a week-long holiday.
LONDON (Scrap Monster): London Metal Exchange (LME) copper rose on Friday after Spain moved to buttress its economy, but was on course for its second weekly loss in a row as the impact of central bank easing fizzled and concerns over Chinese demand weighed ahead of a week-long holiday.
LME copper advanced by 1.14% to $8266.50 a metric ton on Friday form $8173/ mt previously. Except aluminium alloy and zinc, all other base metals traded higher on LME market on Friday.
LME Price Highlights:
--Aluminium alloy declined 0.35% to $1967 a metric ton
--Aluminium rose 1.25% to $2093.50 per metric ton
--Copper rose 1.14% to $8266.50 a metric ton
--Lead advanced 1.52% to $2299.50 per metric ton
--Nickel advanced 2.01% to $18515 per metric ton
--Tin rose 3.36% to $21650 per metric ton
--Zinc declined 1.75% to $2087.50 a metric ton
– Steel advanced 2.94% to $350 per metric ton
The LME metal prices in US $ per metric ton as on September 28, 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 | 1967.00 | 2093.50 | 8266.50 | 2299.50 | 18515.00 | 21650.00 | 2087.50 | 350.00 |
Cash seller | 1968.00 | 2094.00 | 8267.50 | 2300.00 | 18520.00 | 21655.00 | 2088.00 | 360.00 |
3 M buyer | 1985.00 | 2125.50 | 8246.00 | 2300.00 | 18540.00 | 21700.00 | 2112.50 | 360.00 |
3 M seller | 1990.00 | 2126.00 | 8247.00 | 2301.00 | 18550.00 | 21740.00 | 2113.00 | 370.00 |