LME Copper rises on stronger euro

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.