Copper prices reach record high
by Brian Turner

Base metals prices stayed high on Monday on inventory and availability concerns, while precious metals prices were steady to slightly lower on the day. Crude oil prices, meanwhile, were down.
Three-month copper hit $5,165.5 per tonne on the London Metal Exchange and traders expected more highs to be reached soon, especially if there are major supply disruptions. Inventories were at a total of around 200,000 tonnes – four weeks’ supply – at the three main exchanges, the LME, the Shanghai Futures Exchange, and the Comex.
Zinc remained at $2,485 on the LME, the price reached on Friday, as Xtrata said it might close its McArthur River underground mine in Australia if that nation’s authorities do not approve the conversion of the mine into an open cut mine.
In precious metals, gold held steady at $554.30/$555.20 per troy ounce early in the day in New York, while silver dropped 10 cents from a 22-year high reached Friday but still hovered near that record as it traded at $10.33/$10.36 per troy ounce.
Add to Bookmarks:
Related posts to: Copper prices reach record high
Most base metals prices up on session ...
Platinum prices set another record ...
Base metals prices reach records on week ...
Metals hit highs this week ...
Another new high for silver ...
Latest Metals News:
Copper gains on China news
Copper, other metals prices hurt by US consumer confidence
Copper prices up on US new home sales data
Gold prices lower as US dollar gains on euro
Copper gains on Europe manufacturing, US existing home sales data
Gold up slightly ahead of Bernanke remarks, stress test results
Copper up despite drop in US housing starts
Copper gains on demand hopes
Copper prices drop on data, demand worries
Gold ends slightly higherPrevious: « Metals prices up on week
Next: Base metals hit new highs »
Visited 889 times, 1 so far today