Copper down $90 per tonne in London
by Elaine Frei
Base metals prices followed precious metals prices lower on the first day of the new quarter on profit-taking and a stronger US dollar.
May copper was down 2 cents to $3.81 per pound in New York while three-month copper dropped as low as $8,160 per tonne in London before ending $90 lower at $8,300 per tonne.
London Metal Exchange stockpiles, which dropped to 111,350 tonnes, and increased demand from electronics manufacturers suggested to analysts that prices have room to rise.
Among other industrial metals, zinc fell $10 to $2,310 per tonne while lead dropped $15 to $2,780 per tonne and aluminium was down $26 to $2,959 per tonne.
Tin was around $500 lower to $20,050 per tonne while nickel dropped $600 to $29,300 per tonne.
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