Aluminium
Lead prices up on declines in inventories
by Elaine Frei
Base metals prices were mixed Friday while precious metals prices declined on the session.
Lead added $100 to $1,460 per tonne in London trade on a decline in London Metal Exchange inventories.
LME lead inventories dropped 1,650 on the session to 59,425 tonnes, with 20 percent of that amount unavailable because it is already marked for delivery.
Decmeber [...]
Copper prices drop in New York, London
by Elaine Frei
Most base metals prices plummeted again Thursday on continuing worries that demand will decline on a weakening economy, especially after the Philadelphia Federal Reserve reported that factory output in the region was at an 18-year low this month.
December copper dropped 13 cents to $2.09 per pound in New York and three-month copper dropped $260 to [...]
Base metals back to declines
by Elaine Frei
After a day of gains yesterday, base metals prices dropped again on Wednesday as investors worried about a contracting economy and consequent slowing of demand for metals to build houses, make cars, and manufacture other consumer goods.
Prices fell after reports showing that retail sales were down in September in the United States and that manufacturing [...]
Copper up but closes well below session highs
by Elaine Frei
Most base metals prices were higher Tuesday.
Three-month copper added $185 to $5,300 per tonne on the London Metal Exchange while December copper was up 8 cents to $2.39 per pound in New York
Copper had gone as high as $5,615 per tonne in London, but dropped on pessimism after European equities markets closed off session highs [...]
Copper adds 17 cents per pound in New York
by Elaine Frei
Base metals prices were higher Monday as global equities markets tried to bounce back from last week’s steep declines and after European leaders agreed over the weekend to help out banks in the region.
December copper was 17 cents higher to $2.31 per pound in New York and three-month copper jumped $315 to $5,115 per tonne [...]
Copper drops $515 per tonne in London
by Elaine Frei
Metals prices fell significantly Friday after equities markets plunged globally on concerns that a recession is inevitable.
The price of copper is now down 46 percent since it set a record high in July, falling $515 to $4,800 per tonne in London after going as low as $4,570 per tonne, a 14 percent drop to near [...]
Copper gains $75 despite demand concerns
by Elaine Frei
Base metals prices were higher Thursday even though prospects for demand for the metals remained poor, with most gains supported by the prospect that miners will cut output.
Three-month copper added $75 to $5,240 per tonne and went as high as $5,429 per tonne in London while December copper added 5 cents to $2.41 per pound [...]
Industrial metals suffer on economy concerns
by Elaine Frei
Base metals prices were lower again Wednesday on continuing worries about the state of the global economy, but a move by the US Federal Reserve, the European Central Bank, the Bank of England and several other central banks to cut interest rates, generally by about half a percentage point each, brought most prices up from [...]
Precious metals prices climb on demand
by Elaine Frei
The price of gold was higher Tuesday, with December contracts in New York up $19.80 to $886 per troy ounce on the possibility that the US Federal Reserve and the European Central Bank will cut interest rates soon in a bid to help out credit markets.
Gold and other precious metals also saw gains on demand [...]
Gold gains on investor search for safety
by Elaine Frei
Precious metals prices were mixed Monday as gold saw gains as demand by investors grew.
December gold added $33.30 to $866.50 per troy ounce in New York as investors sought safe places to put their money after global equities markets plummeted on a spread of the credit crisis to Europe and as the euro declined in [...]
Copper prices gain on demand hopes
by Elaine Frei
Copper prices were up in New York before the US House of Representatives voted to pass a bailout plan for US banks on hopes that the measure would stop the slide in US and global economies.
Strengthening economies would, investors hope, boost demand for copper, which is used in construction.
The gains came even though the Labor [...]
Gold gains on safe-haven status
by Elaine Frei
Precious metals prices were higher Wednesday as demand increased on investor worries that even if Congress passes a bailout for the US financial sector, it won’t be enough to stop the damage to the global economy.
European Central Bank president Jean-Claude Trichet added his voice to those calling for passage of a bailout to try stabilize [...]
Gold prices lower as equities recover
by Elaine Frei
Precious metals prices were lower Tuesday as the US dollar saw gains in relation to the euro and after US and European equities markets saw gains after Monday’s historic declines.
The Dow Jones Industrial Average dropped more than 777 points Monday, its biggest point loss in one session in history, after the US House of Representatives [...]
Copper drops 17 cents in New York
by Elaine Frei
Most metals prices were lower Monday ahead of the US House of Representatives vote ultimately that turned down a proposal to bail out the US financial sector.
December copper was down 17 cents to $2.91 per pound in afternoon trade in New York while three-month copper was down $335 to $6,440 per tonne in London as [...]
Bailout uncertainty slows copper trade
by Elaine Frei
Copper prices fell Friday on low trade volumes as investors fretted about demand growth and waited for something to happen in negotiations over the US bailout plan after talks faltered late Thursday when some Republicans would not agree to back the plan that had been agreed in principle earlier in the day.
December copper was down [...]
Nickel prices drop on higher inventories
by Elaine Frei
Most base metals prices were up Thursday, but nickel saw declines on more gains in inventories.
Nickel prices were down by $50 to $17,150 per tonne in London Thursday as inventories were up to 53,796 tonnes, the most in over nine years.
The metal also declined on a prediction from Norilsk Nickel (RTS: GMKN; MICEX: GMCK), the [...]
Copper prices fall in London, New York
by Elaine Frei
Most base metals were lower again Wednesday as investors worried about the plan for the US government to bail out the financial sector while business sentiment in Germany declined for the fourth consecutive month as the Ifo business confidence index dropped from 94.8 in August to 92.9 this month.
December copper was down 5 cents to [...]
Copper declines on profit-taking, bailout concerns
by Elaine Frei
Copper prices were lower Tuesday as investors took profits after Monday’s gains and as they worried about how the plan by the US government to spend up to $700 billion to buy up bad debt from banks would impact metals markets.
December copper was down 10 cents to $3.15 per pound in New York, while three-month [...]
Dollar declines push metals prices higher
by Elaine Frei
Metals prices were higher Monday as the US dollar declined on concerns about the financial sector and on sentiment that the Federal Reserve could cut US interest rates again.
Gold was up on the perception that it is a safe investment in a volatile market environment and on worries that confidence will not be enhanced much [...]
Copper, other industrial metals in gains
by Elaine Frei
Base metals prices were higher Friday on a better outlook for demand after the US and other governments began to put plans into place to deal with the effects of the credit crisis on the financial sector.
December copper added 11 cents to $3.18 per pound in New York while three-month copper added $311 to $7,060 [...]