LME Copper rebounds on dollar
Metal Recycling News | 2012-10-12 03:19:32
London Metal Exchange (LME) copper bounced on Thursday from two-week lows as the dollar fell, but the gains were likely to be capped as investors fret about the growth outlook for big metals consumer China and the grinding debt crisis in the euro zone.
By Paul Ploumis
LONDON (Scrap Monster): London Metal Exchange (LME) copper bounced on Thursday from two-week lows as the dollar fell, but the gains were likely to be capped as investors fret about the growth outlook for big metals consumer China and the grinding debt crisis in the euro zone.
Except, aluminium, copper and tin all other metal prices were moved down on LME market on Thursday.
LME copper set a fresh two-week low at one stage, aluminium hit its lowest for five weeks, one-month lows were seen in lead and zinc, and nickel dropped to its weakest for three weeks.
LME Price Highlights:
--Aluminium alloy declined 0.31% to $1885 a metric ton
--Aluminium rose 0.05% to $1992 per metric ton
--Copper advanced 1.05% to $8210 a metric ton
--Lead declined 0.33% to $2207 per metric ton
--Nickel declined 0.5% to $17640 per metric ton
--Tin advanced 1.59% to $22025 per metric ton
--Zinc slipped 0.07% to $1950 a metric ton
– Steel fell 1.34% to $330 per metric ton
The LME metal prices in US $ per metric ton as on October 11, 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 | 1885.00 | 1992.00 | 8210.00 | 2207.00 | 17640.00 | 22025.00 | 1950.00 | 330.00 |
Cash seller | 1890.00 | 1992.50 | 8212.00 | 2208.00 | 17645.00 | 22050.00 | 1950.50 | 331.00 |
3 M buyer | 1920.00 | 2019.00 | 8212.00 | 2212.00 | 17700.00 | 22150.00 | 1988.00 | 350.00 |
3 M seller | 1930.00 | 2020.00 | 8212.50 | 2213.00 | 17710.00 | 22200.00 | 1989.00 | 352.00 |
