Aluminium
Copper prices lower on credit concerns
by Elaine Frei
Copper prices were lower Tuesday on concerns that credit market problems will slow economic growth, which could cut demand for metals.
September copper, which was also hurt by a stronger dollar that made investors worry less about inflation, was down 15 cents to $3.70 per pound in New York while three-month copper dropped $227 to $8,185 […]
Platinum gains on smelter closure
by Elaine Frei
Precious metals prices were mixed Monday, with gold and silver down after the US dollar made gains against the euro after being down against the shared currency earlier in the session.
October platinum, however, added $9.60 to $2,072 per troy ounce on the news of a smelter closure in South Africa.
The Lonmin (LSE: LMI; JSE: LOLMI) […]
Tin bucks falling metals prices trend
by Elaine Frei
Most metals prices were lower on Monday as the US dollar strengthened, although some were up in early trade.
September copper was 2 cents lower to $3.81 per pound in New York while three-month copper was down $35 to $8,400 per tonne in London despite rising to as much as $8,490 earlier in the day.
Aluminium jumped […]
Gold prices gain as platinum declines
by Elaine Frei
Most precious metals prices rose Thursday while most base metals prices fell on the session.
August gold was up $10.50 to $904 per troy ounce in New York, while July silver added 13 cents to $17.47 per troy ounce but July platinum dropped $36.10 to $2,055.80 per troy ounce.
September copper was up 3 cents to $3.78 […]
Gold gains on rate speculation
by Elaine Frei
Most metals prices were higher Wednesday.
Gold and silver both saw gains on speculation that interest rates will not rise soon in the US due to signs, including continuing job losses and rising foreclosures, that the US economy is still slowing.
At the same time, rising inflation left investors looking for safe places to put their money.
August […]
Weaker dollar boots precious metals prices
by Elaine Frei
Precious metals prices were higher on Monday while base metals prices were mixed as the euro strengthened over the US dollar during the session.
August gold was up $13.20 around the close of floor trade in New York to $886.30 per troy ounce, while July silver jumped 67 cents to $17.23 per troy ounce and July […]
Silvercorp posts 172% rise in earnings
by Gill Montia
Silvercorp Metals, the Canadian miner that operates predominantly in China’s Henan province, has reported record earnings for the financial year ended 30th March 2008.
The company’s net earnings rose 172%, to $61.7 million, up from $25.1 million in the previous year.
Ores mined increased 80% to a total of 306,143 tonnes.
Sales are broken down as follows: 3,960,189 […]
Metals prices fall with crude oil prices
by Elaine Frei
Precious metals prices were lower in afternoon trade in New York on Thursday after the dollar gained on the euro and the yen and oil prices were down by more than $4 per barrel as demand for metals as an investment declined.
August gold traded $24 lower to $881 per troy ounce while July silver was […]
Nickel prices drop $800 per tonne in London
by Elaine Frei
Base metals prices were lower on Wednesday.
Nickel prices fell in London, dropping $800 to $22,500 per tonne, a decline of 3.4 percent after the metal, used in the manufacture of stainless steel, was down by 3.3 percent on Tuesday.
A decline in London Metal Exchange stockpiles of 54 tonnes during the session did not offset worries […]
Most metals prices see gains
by Elaine Frei
Metals prices were mixed on Friday, with most precious and base metals higher but a few bucking trends and falling slightly.
Gold saw gains as investors looked for inflation-proof investments after crude oil prices remained high and the dollar weakened again in relation to the euro.
June gold was $7.40 higher to $925.70 per troy ounce near […]
Base metals prices down on inventories
by Elaine Frei
Base metals prices fell on Monday as inventories climbed for several of the metals used in industrial applications.
Zinc was down $77 to $2,288 per tonne as inventories climbed by 5,075 during the session and after it became clear that only a small amount of smelting capacity - about 300,000 tonnes, or about 1 percent of […]
Aluminium, zinc higher on China quake aftermath
by Elaine Frei
Prices for most base metals were higher on Thursday, with aluminium and zinc both rising on issues related to the aftermath of the earthquake in China earlier this week.
Three-month aluminium added $72 to $3,010 per tonne in London on the possibility that power shortages due to the earthquake could shut down smelters and interrupt supplies.
Additionally, […]
Platinum prices surge
by Elaine Frei
Metals prices were mixed Thursday, with precious metals prices up and base metals mostly on the decline.
June gold added $10.80 to $882 per troy ounce while July silver was up 27 cents to $16.96 per troy ounce and July platinum surged $73.30 to $2,042.30 per troy ounce.
Precious metals prices rose as the dollar weakened after […]
Metals prices drop as dollar strengthens
by Elaine Frei
Base metals prices dropped Wednesday as the US dollar strengthened, making it more expensive for investors using other currencies to buy metals that are sold in dollars.
Prices for copper were pushed lower by the end of a strike in Chile and on concerns that price increases this year will hurt demand from China, where consumption […]
Metals prices gain on session
by Elaine Frei
Copper prices were higher Friday on increased buying after a 3.7 percent price decline on Thursday sent investors looking for bargains.
Prices also benefited from a decline of 450 tonnes in London Metal Exchange stockpiles on the session, and the buying came before closure of the LME for a holiday on Monday.
July copper added 12 cents […]
Copper gains as other metals prices decline
by Elaine Frei
Copper prices bucked a declining trend among metals, rising 3 cents to $3.91 per pound in New York and finishing the day even at $8,540 per tonne in London after going as low as $8,465 per tonne earlier in the session.
Prices were supported by a report from one Chilean mine that showed first quarter output […]
Weak dollar, IMF forecast help metals
by Elaine Frei
Metals prices followed crude oil higher on Wednesday as the dollar weakened again versus the euro and the International Monetary Fund predicted that the United States will see a recession this year.
The IMF forecast that the US economy would only grow by 0.5 percent this year and by just 0.6 percent next year, and that […]
Most metals prices see gains
by Elaine Frei
The price of gold climbed slightly on Friday, with June gold adding $3.90 to $913.50 per troy ounce after the US dollar weakened and oil prices saw gains, but it remained 2.7 percent lower on the week.
Other precious metals followed gold’s lead, with May silver up 28 cents to $17.76 per troy ounce while July […]
Metals prices mixed on session
by Elaine Frei
Metals prices were mixed but mostly higher on Wednesday.
Gold saw gains on speculation that recent gains for the US dollar will not hold and that the Federal Reserve will cut US interest rates again soon.
June gold added $11.70 to $899.50 per troy ounce in New York, while May silver gained 30 cents to $17.19 per […]
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 […]