Aluminium
Nickel, copper see price gains
by Brian Turner
Metals prices were higher on Thursday as a number of issues were at work.
High demand and tight supplies sent nickel prices up more than 5 percent. Three-month nickel on the London Metal Exchange was at $28,750 per tonne, close to the record high set last week. Inventories were down by 720 tonnes during [...]
Copper declines on possible strike settlement
by Brian Turner
Metals prices were mixed on Wednesday. Three-month copper dropped $50 to $7,350 per tonne on reports that a provisional settlement has been reached in the Escondida mine strike in Chile, with a vote to be taken on Thursday. Nickel was also lower, dropping $1,025 to $27.450 per tonne as London Metal Exchange inventories [...]
Nickel inventories drop further; prices still decline
by Brian Turner
In the metals markets on Tuesday, gold fell $3 to $610.40 per troy ounce. The World Gold Council said that demand for gold in the Middle East was down by 25 percent in the second quarter.
In base metals, three-month copper was $170 lower to $7,390 per tonne on the London Metal Exchange even though [...]
Nickel, coper prices up this week
by Brian Turner
In the metals markets on Friday, three-month copper was $90 higher to $7,520 per tonne as miners continued to strike in Chile. Meanwhile, nickel was trading at a cash price of $33,825 per tonne on Friday after gong as high as $35,200 per tonne earlier in the week. Three-month nickel was at $29,200 [...]
Nickel up on new inventory declines
by Brian Turner
Metals prices were mixed again on Thursday. Gold was up 0.2 percent to $622.60 per troy ounce as it was announced that Turkey will launch its first gold exchange traded fund in September. Among base metals, Copper was 1.8 percent lower to $7,470 per tonne even though the Escondida strike could continue for [...]
Prices down on nickel, copper
by Brian Turner
In metals markets on Wednesday, precious metals prices stayed close to previous levels. Gold was up slightly to $623.70 per troy ounce. Silver sat at $12.30 per troy ounce, while platinum sold for $1,228 per troy ounce and palladium brought $341 per troy ounce.
Among base metals, nickel and copper prices were both lower. [...]
Metals mixed on strike, inventories concerns
by Brian Turner
In metals markets on Tuesday, gold dropped 0.9 percent to $621.90 per troy ounce as rumors circulated that central banks could increase their sales of gold in the next few weeks, ahead of the deadline for the current Central Bank Gold Agreement on September 26. This was not reflected, however, in the European Central [...]
LME to introduce small cash contracts
by Brian Turner
Gold prices were up on Monday in response to political tensions over Iran, adding 1.5 percent to $623.60 per troy ounce.
Among base metals, copper was 2.4 percent higher to $7,685 per tonne as the Escondida mine strike in Chile began its third week. Nickel, meanwhile, added 1.8 percent to $28,500 per tonne as inventories [...]
Metals prices mixed on week
by Brian Turner
Copper prices increased by 2.6 percent on Friday as talks in the Escondida mine strike in Chile broke down and BHP Billion, which controls the mine, shut down operations there. The closure resulted in the loss of 26,000 tonnes of copper production per day. Despite Friday’s jump in prices, copper was 1.2 percent [...]
Metals prices up on inventory, supply concerns
by Brian Turner
In the metal markets on Wednesday, nickel was again in focus as the cash price hit $35,000 per tonne and three-month prices were up 6.4 percent to $29,200 per tonne, a new record. While inventories in London Metal Exchange warehouses grew by 354 tonnes, the amount in storage but already marked for delivery rose [...]
Gold price loses 1.2 percent
by Brian Turner
In the metal markets on Tuesday, nickel hit a new record of $27,800 per tonne before it pulled back to $27,400 per tonne, a gain of 1.1 percent on the session. The gain in the price of nickel was attributed to supply concerns as demand has diminished inventories to very low levels of around [...]
Copper adds 1.4 percent as Chile strike continues
by Brian Turner
In the metal markets on Monday, gold dropped 0.8 percent to $627.20 per troy ounce after tensions eased over the Israel/Hizbollah situation. Among other precious metals, silver added 0.8 percent to $11.97 per troy ounce, but platinum and palladium were both lower, by 1.7 percent to $1,219 per troy ounce and 1.6 percent to [...]
Copper higher while gold declines
by Brian Turner
In the metals markets, copper was higher on Thursday, but gold fell by around $10 to $640.60/$641.35 per troy ouince as oil prices fell and the dollar strengthened. Copper was $87.50 higher to $7,885 per tonne as the possibility of a strike in Chile still was a possibility. Management tendered an offer of [...]
Gold, copper prices rise
by Brian Turner
In metals markets on Wednesday, gold added $4 to $650.60/$651.35 after going as high as $655.45 earlier. Three-month copper was also higher, gaining $35 to $7,805 per tonne ahead of news as to whether or not workers at Escondida mine in Chile would go out on strike. BHP Billiton, which controls the mine, [...]
Metals prices mixed as copper declines
by Brian Turner
Among metals, gold prices were up by $10 to $644.50.$645.45 per troy ounce. On the other hand, copper prices were $180 lower to $7,770 per tonne. Copper workers at Escondida mine in Chile set a Wednesday deadline for management to raise pay in order to avoid a strike there. Meanwhile, copper inventories [...]