Aluminium
Copper prices up on data, despite expanding inventories
by Elaine Frei
Copper prices rose Friday on optimism prompted by US data showing that the economy there didn’t contract as much as had been anticipated in the second quarter and that consumer spending was up in the US in July, with buyers not deterred by analyst warnings that prices could drop again with inventories up and demand [...]
Copper drops as other metals prices remain mixed
by Elaine Frei
Copper prices were lower Thursday after China said it will cut oversupply after adding to inventories earlier in the year was one of the main drivers sending copper prices up in the past months.
Also sending prices lower was a gain of 1,150 tonnes in London Metal Exchange stockpiles higher during the session.
Decmeber copper was down [...]
Gold prices fall on dollar strength
by Elaine Frei
Precious metals prices were lower Wednesday, with gold falling on a stronger US dollar and on declines in oil prices.
The dollar was helped by durable goods orders that were up 4.9 percent in July and new home sales there were 9.6 percent higher during the month, as reported by the US Commerce Department.
Transportation equipment orders [...]
Lead prices gain again; other base metals lower
by Elaine Frei
Lead prices were up again Tuesday, adding $36 to $2,061 per tonne on the London Metal Exchange as producer Hunan looked at smelters after instances of lead poisoning in Shaanxi province.
The price of lead was up to $2,068 per tonne earlier in the session on a warning that more smelters could be closed in China.
Other [...]
Lead prices gain on China smelter shutdown
by Elaine Frei
There was mixed news for metals out of China Monday as new data from the customs office there said that refined copper imports doubled and more in the first half of the year but were down 23 percent in July from June’s levels.
Additionally, it was reported that Henan province in China, the Asian nation’s largest [...]
Copper prices up as US home sales rise
by Elaine Frei
The price of copper was up Friday on new data from the National Association of Realtors showing that US existing home sales were up 7.2 percent in July, boosting hopes of demand recovery although there were still concerns about demand from China.
September copper added 14 cents to $2.88 per pound in New York trade, while [...]
Gold declines on stronger dollar, more jobless in US
by Elaine Frei
Precious metals prices were mixed Thursday, with gold down as the US Labor Department reported that first-time jobless claims rose again last week.
The number of initial unemployment claims were up 15,000 to 576,000, while in the week ending 8 August long-term jobless claims were up 2,000 to 6.24 million even though the four-week average dropped [...]
Copper declines on new demand concerns
by Elaine Frei
Copper prices were lower in London and the metal traded about even in New York after Chinese equities markets declined steeply Wednesday, causing investors to worry about the strength of economic recovery and whether demand for metals will recover.
These worries came on top of concerns raised by weaker than hoped for data from the US [...]
Copper prices fall in New York, rise slightly in London
by Elaine Frei
Copper prices were mixed on Tuesday as September copper traded down a cent to $2.76 per pound in New York but was up slightly to $6,060 per tonne in London after US housing starts were reported down overall in July by the Commerce Department.
Starts on single-family units were said to be up 1.7 percent during [...]
Copper prices fall on sentiment
by Elaine Frei
Metals prices were lower Monday, following crude oil prices and equities markets lower.
Copper declined even though the New York Federal Reserve reported that manufacturing in the New York region was up in July, expanding rather than contracting for the first time in over a year, as the dollar strengthened and investors reacted to last week’s [...]
Copper prices lower on stockpiles, sentiment
by Elaine Frei
Copper prices were lower Friday on sentiment that a recent rally went too far considering gains in stockpiles in London Metal Exchange-monitored warehouses.
LME stockpiles have added 14 percent in the past month and were up to 292,875 tonnes on today’s session, while Shanghai inventories have also seen gains and are up 20 percent just this [...]
Copper gains on GDP news from France, Germany
by Elaine Frei
Copper prices were higher Thursday in New York and London after Germany and France each saw their gross domestic product rise in the second quarter and on remarks from the US Federal Reserve indicating that the worst of the recession could be over.
This good economic news led to speculation that demand for metals could rise.
September [...]
Gold prices lower in New York
by Elaine Frei
Gold prices fell in New York Wednesday as the US dollar weakened while investors waited to see if the Federal Reserve would leave interest rates steady, as most analysts expected they would.
December gold was down $4.90 to $952.50 per troy ounce at the close of floor trade in New York, after going as low as [...]
Copper down on dollar, China imports
by Elaine Frei
Copper prices fell Tuesday on new data about imports into China and as the US dollar strengthened and equities markets in the US and Europe declined.
New figures showed that China imported almost 15 percent less copper in July than it did in June.
September copper was 3 cents lower to $2.74 per pound in New York [...]
Copper prices down on new demand concerns
by Elaine Frei
The price of copper fell Monday as investors feared that demand will decline globally, except perhaps in China as well as on concerns that recent price gains were too much.
September copper was down 2 cents to $2.77 per pound in New York after going as high as $2.84 per pound earlier, the metal’s highest price [...]
Stronger dollar sends metals prices lower
by Elaine Frei
Copper prices were lower Thursday, hurt by a stronger dollar and yesterday’s report from the Institute for Supply Management, which showed an unexpected decline to 46.4 in July of its services index, indicating that the services sector remains in contraction.
September copper was 6 cents lower to $2.75 per pound in New York trade while three-month [...]
Gold prices down; other precious metals gain
by Elaine Frei
Gold prices were lower Wednesday but other precious metals managed to come back from declines to end the session higher.
December gold fell $3.40 to $966.30 per troy ounce in New York after trading as low as $961.10 per troy ounce as the US dollar saw little change but equities markets declined and oil prices fell [...]
Base metals prices down on inventory gains
by Elaine Frei
Copper prices were lower Tuesday as inventories levels were key to base metals prices overall during the session.
London Metal Exchange stockpiles of copper were up 1.3 percent to 285,900 tonnes for a third straight day of gains, sending three-month copper down half a percent to $5,969.50 per tonne in afternoon trade in London after it [...]
Gold gains on ISM US factory data, weaker dollar
by Elaine Frei
Gold and other metals prices were higher Monday as the US dollar weakened on new data showing that manufacturing was up in the United States, the UK and China, sending investors looking for riskier alternative investments and fueling sentiment that demand will increase.
In the United States, the Institute for Supply Management reported that its factory [...]