Copper higher in London, New York
by Elaine Frei
Prices for base metals were up this week as several metals hit new highs amid supply troubles.
Three-month lead had added $110 to trade at $3,450 per tonne in afternoon trade in London after setting a new record high earlier in the day.
Lead finally closed out the session at $3,480 per tonne, a gain of 15.2 percent on the week.
Three-month copper gained $140 to $8,110 per tonne on the London Metal Exchange, while it added 4 cents to $3.71 per pound in New York based on speculation that demand will rise in China and on continuing labor troubles in Chile.
Other base metals saw gains during the week as well.
Tin was 8.5 percent higher on the week, closing at $15,400 per tonne, while nickel added 6 percent on the week to $34,700 per tonne but it is still 32 percent lower than its record high, set in May.
Aluminium gained 2.2 percent this week to close at $2,845 per tonne.
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