Aluminium
Demand worries take copper prices lower
by Elaine Frei
Base metals prices were lower Monday, with copper seeing declines in both New York and London trade on lack of demand in China, and on concerns that Japanese carmakers will have to shut plants in China due to a shortage of parts related to the 11 March earthquake and tsunami. Large amounts of copper are [...]
Gold closes at new record high in New York
by Elaine Frei
The price of gold reached a new record closing high in New York trade as some analysts predicted that gold will hit $1,500 per troy ounce soon. April contracts for gold added $10.40 to $1,438 per troy ounce as investors worried about continuing fighting in Libya and unrest in other parts of North Africa and [...]
Copper prices up slightly on hopes for long-term demand gains
by Elaine Frei
Copper prices were up slightly Monday, helped a bit by anticipated demand gains in the longer term when Japan begins to rebuild in the wake of the earthquake and tsunami that struck the Asian nation Friday. May copper added less than a cent to $4.19 per pound in New York trade, while three-month contracts were [...]
Gold down $7 in New York
by Elaine Frei
Precious metals prices were lower in New York trade Tuesday. April contracts for gold ended the session down $7.30 to $1,427.20 per troy ounce on rumors that Libyan leader Muammar Qadaffi is attempting to negotiate his safe exit from the country after he resigns from office. The reports were said to come from his opposition, [...]
Copper prices drop in New York, London
by Elaine Frei
The price of copper fell again Wednesday as concerns continued that civil unrest in North Africa and the Middle East and the resulting rise in oil prices will hurt economic recovery globally and cut demand for copper and industrial metals. Libyan leader Muammar Qadaffi insisted once again that he will not step down as leader [...]
Copper gains $15 per tonne in London on China rate hike
by Elaine Frei
Copper prices were mixed Tuesday, as the dropped slightly in New York but added $15 per tonne in London after investors worried about how a new interest rate hike in China would affect demand for the metal there. The People’s Bank of China announced that it would raise the one-year lending rate and the deposit [...]
Copper prices again hit highs in London, New York
by Elaine Frei
Copper prices hit new records in New York and London again Monday as investors worried about supplies, especially from Chile. March contracts for the metal used in manufacturing and construction went as high as $4.61 per pound in New York trade before settling to a loss of less than a penny from Friday’s close to [...]
Copper prices gain despite London inventories rise, China demand concerns
by Elaine Frei
Copper prices were higher Wednesday, helped by a Commerce Department report showing that new home sales in the United States were up in December, but the gains were limited by concerns about demand in China on the news that the government there has raised the required down payment on second homes and as trade slowed [...]
Copper, tin, gold prices gain as other metals see declines
by Elaine Frei
Copper prices were higher Monday as investors had fewer concerns about demand in China and as the US dollar weakened, making commodities less expensive for buyers using other currencies. The easing of concerns about China’s demand for the metal used in manufacturing and construction came on analyst predictions that the Asian country will keep using [...]
Gold prices rise on physical demand, weaker US dollar
by Elaine Frei
February contracts for gold added $7.70 to 41,368.20 per troy ounce in floor trade in New York, Tuesday, helped out by a weaker US dollar and physical demand in Asia head of the Lunar New Year holidays there at the beginning of February. Demand for gold coins and bars has been reported up by both [...]
Gold drops $28 per ounce on less demand for safety
by Elaine Frei
The price of gold headed lower Friday, to its lowest close in over a month and a half on fewer concerns about the European debt troubles as investors hoped that those problems are on the way to being solved and were less interested in gold as a safe place to put their cash. February contracts [...]
Copper prices hurt by Asia concerns
by Elaine Frei
Copper prices were lower Thursday on concerns that China might tighten monetary policy again, which could hurt demand there, while there were also worries that demand will be lower for the rest of the month, heading into the Lunar New Year holiday season at the beginning of February in Asia. Also pushing prices down was [...]
Copper prices down on fears China will tighten policy again
by Elaine Frei
Copper prices fell Friday in New York and London on concerns by investors that China will continue to tighten monetary policy in order to contain inflation, which could end up cutting demand for copper and other base metals there. February copper was down 5 cents to $4.28 per pound in New York trade, while three-month [...]
Copper prices up in New York but lower in London
by Elaine Frei
Copper prices were mixed, up in New York trade but down in London, on Wednesday, with US prices helped by a report showing that the non-manufacturing sector there in December. Also aiding optimism was a private report which said that the US private sector added 297,000 jobs last month, although some analysts did not put [...]
Copper, gold in significant declines
by Elaine Frei
Metals prices were lower Tuesday as the US dollar strengthened and as the London Metal Exchange came back to work after an extended New Year’s Day holiday. Copper saw gains on higher inventories which prompted speculation that there will be enough supply to meet demand and on a prediction that prices could drop by as [...]
Copper gains on manufacturing data; gold, silver decline
by Elaine Frei
Metals prices were mixed Thursday as precious metals such as gold and silver declined but copper and some other base metals advanced on signs that manufacturing activity is expanding in China and parts of the United States. March copper added 5 cents to $4.36 per pound in New York trade after going as high as [...]
Copper drops on data, inventory gains
by Elaine Frei
Copper prices were lower Thursday as US markets closed early ahead of the Christmas holiday this weekend, falling on supply concerns and higher stockpiles in London-monitored warehouses. March copper was down 2 cents to $4.26 per pound in holiday-shortened New York trade, while three-month contracts on the London Metal Exchange dropped $50 to $9,300 per [...]
Metals prices mixed in slow trade before holidays
by Elaine Frei
Metals prices were mixed on Wednesday as trade volumes declined ahead of Christmas Day, coming up this weekend, with many investors already away on holiday. Three-month contracts for copper were down $15 to $9,350 per tonne on the London Metal Exchange after prices it new record highs in both London and New York yesterday, while [...]
Copper hits record highs in New York, London on news, data
by Elaine Frei
Most metals prices were higher Tuesday as copper was helped by data from China and news from Chile. March copper ended the session up 7 cents to $4.28 per pound in New York, the highest close ever for the metal used in construction and manufacturing, while three-month contracts on the London Metal Exchange ended the [...]
Copper prices gain on demand hopes, supply concerns
by Elaine Frei
Copper prices were up Monday on expectations that demand will remain healthy in China and after an accident at a main port in Chile interrupted shipments of supplies from the Collahuasi Mine there, causing the mine to declare a force majeure on exports. Gains were limited, however, after the European Central Bank worried out loud [...]