LME copper inventories decline
by Elaine Frei
Base metals prices were mostly higher Monday.
September copper added 8.15 cents in New York to $3.41 per pound, while the London price was 1.5 percent higher to $7,559 per tonne as London Metal Exchange inventories were lower and as equities markets began to make gains, lessening concerns that economic growth declines could mean lower demand.
Other base metals also gained ground in London trade.
Aluminium was 0.1 percent higher to $2,600 per tonne.
Nickel added 2.4 percent to $27,400 per tonne and lead was up 3.8 percent to $3,010 per tonne, but both were still down from earlier highs.
The price of tin was lower for the fourth session in a row, falling 3.1 percent to $15,300 per tonne after last week’s gains on supply interruptions in Indonesia.
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