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. Three-month nickel dropped 4 percent to $28,750 per tonne after hitting a new record on Tuesday. London Metal Exchange inventories were up 174 tonnes to 1,956 tonnes, but supplies were still tight and cash prices were at $33,325 for the session.
Three-month copper fell 0.6 percent to $7,575 per tonne as there was still no solution in sight to the strike at Escondida mine in Chile. The union has lowered its demands yet again, but BHP Billiton has not moved to raise its previous offer, which workers have rejected.
Add to Bookmarks:
Related posts to: Prices down on nickel, copper
Hunter Dickinson to invest in Independent Nickel ...
Nickel inventories drop further; prices still decline ...
Two year delay for BHP’s Ravensthorpe nickel mine ...
Three-month nickel hits another record high price ...
Nickel hits new record before dropping $150 per tonne ...
Latest Metals News:
Copper losses pull other metals prices lower Xstrata increases stake in Indophil BHP fatality closes Australian iron ore mines Palladium gains as other precious metals see declines EU halts investigations into BHP’s bid for Rio Aluminium falls amid gains for other base metals Lomin rejects Xstrata bid but leaves door ajar Metals drop with crude oil prices Antofagasta forges ahead despite rising costs Copper prices lower on jump in inventoriesPrevious: « Metals mixed on strike, inventories concerns
Next: Nickel up on new inventory declines »
Visited 314 times, 1 so far today