LME Copper slips, Nickel remains positive

LONDON (Scrap Monster): London Metal Exchange (LME) copper edged down slightly on Monday after steep gains in the previous session, although prices did not stray too far from a 4-1/2 month top as a new round of U.S. monetary stimulus measures and a weak dollar continued to support sentiment.

Aluminium and lead prices also moved down on LME market on Monday, both ended at $2161.50 per metric ton (mt) and $2242.50/ mt, respectively.

Meanwhile, LME nickel set a fresh four-and-a-half-month high at $17,975 and ended at $17950/ mt on Monday, up 2.45% from the pre-weekend close.

LME Price Highlights:

--Aluminium alloy rose 3.52% to $2058 a metric ton

--Aluminium declined 0.68% to $2161.50 per metric ton

--Copper declined 1.27% to $8292.50 a metric ton

--Lead dipped 0.02% to $2242.50 per metric ton

--Nickel gained 2.45% to $17950 per metric ton

--Tin rose 1% to $21625 per metric ton

--Zinc advanced 0.89% to $2053.50 a metric ton

– Steel remain unchanged at $320 per metric ton

The LME metal prices in US $ per metric ton as on September 17, 2011. The figures in brackets refer to prices that prevailed on the previous day.