LME Copper extends rally on global stimulus hopes
Metal Recycling News | 2012-07-30 05:08:31
London Metal Exchange (LME) copper advanced by 0.59% to $7554.50 a metric ton on Friday, buttressed by returning confidence in the euro after the European Central Bank's chief reinforced a commitment to the single currency, while focus shifted to a key U.S. Economic indicator later in the session.
By Paul Ploumis
LONDON (Scrap Monster): London Metal Exchange (LME) copper advanced by 0.59% to $7554.50 a metric ton on Friday, buttressed by returning confidence in the euro after the European Central Bank's chief reinforced a commitment to the single currency, while focus shifted to a key U.S. Economic indicator later in the session.
All other metal prices also traded higher on Saturday except Aluminium and nickel, both declined to $1859.50 per ton and $15855 per ton respectively.
LME Price Highlights:
--Aluminium alloy rose 0.48% to $1760 a metric ton
--Aluminium declined 0.29% to $1859.50 per metric ton
--Copper rose 0.59% to $7554.50 a metric ton
--Lead advanced 2.08% to $1907 per metric ton
--Nickel declined 0.43% to $15855 per metric ton
--Tin advanced 2.71% to $18175 per metric ton
--Zinc gained 1.43% to $1834 a metric ton
--Steel gained 1.35% to $370 per metric ton
The LME metal prices in US $ per metric ton as on July 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 | 1760.00 | 1859.50 | 7554.50 | 1907.00 | 15855.00 | 18175.00 | 1834.00 | 375.00 |
Cash seller | 1765.00 | 1860.00 | 7555.00 | 1907.50 | 15860.00 | 18225.00 | 1835.00 | 385.00 |
3 M buyer | 1779.00 | 1893.00 | 7560.00 | 1917.00 | 15905.00 | 18175.00 | 1842.00 | 395.00 |
3 M seller | 1780.00 | 1894.00 | 7560.50 | 1917.50 | 15910.00 | 18225.00 | 1843.00 | 405.00 |
