Daily Metal Market News & Metal Prices
 
Daily Metal Prices & Market News
Friday 03rd of September 2010
Thursday, December 24, 2009

Copper up despite gains in London stockpiles

Copper up despite gains in London stockpiles

Copper prices were higher Thursday as the US dollar weakened and on concerns that a possible miners’ strike in Chile could tighten supplies.

March copper was up 9 cents to $3.29 per pound in New York trade, while three-month copper contracts in London added $70 to $7,070 per tonne after going as high as $7,130 per tonne earlier in the session.

The gains came even though London Metal Exchange-monitored warehouses added 2,025 tonnes to stockpiles on the session.

Nickel was also higher despite a gain of 1,836 tonnes to stockpiles, to a new record high of 152,400 tonnes, as prices rose to as much as $18,900 per tonne before ending the session up $325 to $18,750 per tonne.

Zinc prices hit $2,551 per tonne before ending $48 higher to $2,491 per tonne while aluminium was up $1 to $2,255 per tonne, lead added $11 to $2,343 per tonne and tin gained $125 to $16,150 per tonne on the session.

Among precious metals, February gold was up $10.80 to $1,104.80 per troy ounce in New York while March silver added 25 cents to $17.44 per troy ounce, April platinum was $41.10 higher to $1,474 per troy ounce and, in morning trade, palladium gained $25.65 to $379 per troy ounce.

 

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