LME Copper rises on stronger euro
Metal Recycling News | 2012-10-05 03:43:08 | By Paul Ploumis
LME copper advanced by 0.58% to $8324 a metric ton (mt) on Thursday from $8275.50/ mt previously. Except zinc, all other metal prices also traded higher on LME market on Thursday.
LONDON (Scrap Monster): London Metal Exchange (LME) copper edged higher on Thursday, helped by a stronger euro on expectations Spain would seek a bailout to rescue its economy, although gains were capped by uncertainty about global growth, while trading volumes were low as China remained on holiday.
LME copper advanced by 0.58% to $8324 a metric ton (mt) on Thursday from $8275.50/ mt previously. Except zinc, all other metal prices also traded higher on LME market on Thursday.
LME Price Highlights:
--Aluminium alloy rose 0.54% to $1930.50 a metric ton
--Aluminium advanced 0.86% to $2087 per metric ton
--Copper advanced 0.58% to $8324 a metric ton
--Lead gained 0.65% to $2308 per metric ton
--Nickel advanced 0.13% to $18640 per metric ton
--Tin advanced 0.79% to $22225 per metric ton
--Zinc slipped 0.09% to $2053.50 a metric ton
– Steel rose 0.89% to $338 per metric ton
The LME metal prices in US $ per metric ton as on October 04, 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 | 1930.50 | 2087.00 | 8324.00 | 2308.00 | 18640.00 | 22225.00 | 2053.50 | 338.00 |
Cash seller | 1931.00 | 2088.00 | 8325.00 | 2308.50 | 18650.00 | 22230.00 | 2054.00 | 348.00 |
3 M buyer | 1955.00 | 2115.00 | 8329.50 | 2312.50 | 18600.00 | 22220.00 | 2088.50 | 348.00 |
3 M seller | 1960.00 | 2116.00 | 8330.00 | 2313.00 | 18625.00 | 22225.00 | 2089.00 | 358.00 |