Copper prices unchanged in London

Copper prices were slightly higher in New York on Friday and held steady in London as declines in the dollar supported prices despite more gains in inventories.

December copper on the Comex division of the New York Mercantile Exchange added 1 cent to $3.55 per pound, while three-month copper on the London Metal Exchange traded even at $7,860 per tonne after dropping to $7,811 per tonne earlier in the session.

London Metal Exchange warehouses took in a further 1,200 tonnes of copper to send inventories to 148,950 tonnes, bringing gains to 13 percent so far this month.

Prices for other base metals were mixed on the session in London.

Three-month aluminium was up $5 to $2,558 per tonne as stockpiles in LME warehouses dropped by 1,775 tonnes during the day, while three-month lead was $40 higher to $3,705 per tonne and tin added $200 to $16,300 per tonne.

Zinc dropped $15 to $2,955 per tonne while nickel fell $300 to $32,200/$32,250 per tonne.