Aluminium
Copper, aluminium prices climb as other base metals fall
by Elaine Frei
Base metals prices were mixed Thursday, with copper up on new demand concerns and aluminium higher on an 8-month low in stockpiles while other prices fell.
Three-month copper added $24 to $7,464 per tonne on the London Metal Exchange, while April contracts added 1 cent to $3.38 per pound in New York trade.
The gains for the [...]
Copper up in London; inventories fall, cancelled warrants rise
by Elaine Frei
Copper traded about even at $3.41 per pound in New York in afternoon trade Tuesday, but it added $40 to $7,510 per tonne on the London Metal Exchange.
The declines came after inventories in warehouses monitored by the LME dropped 2,700 tonnes on the session to 538,875 tonnes during the session to their lowest levels since [...]
Copper gains on US jobs data, China comments
by Elaine Frei
Copper prices were up Friday, helped by better jobs data for the United States and more optimism that demand for the metal from China will not be hurt by the Asian nation’s monetary policy.
The US Labor Department reported that only 36,000 non-farm jobs were lost to the economy in February, rather than the 50,000 jobs [...]
Copper up on weaker dollar
by Elaine Frei
Copper prices were up again Wednesday as the US dollar weakened and cancelled warrants in London Metal Exchange-monitored warehouses were up, but gains were limited by a return to production of mines in Chile after stoppages due to last weekend’s magnitude 8.8 earthquake there.
Additionally, demand from China remains week, hurting prices.
Three month copper was up [...]
Copper prices climb after Chile quake
by Elaine Frei
Copper prices were higher Monday in the wake of a magnitude-8.8 earthquake which shook parts of Chile over the weekend, but prices fell back slightly once it became clear that there was little or no serious damage to Chilean copper mine from the quake, although interruptions to power supplies could hurt production, a quarter of [...]
Metals prices mixed in New York, London
by Elaine Frei
Metals prices were mixed Wednesday for both base and precious metals.
May copper added 2 cents to $3.26 per pound in New York trade, while three-month contracts on the London Metal Exchange ended the session $14 lower to $7,130 per tonne, but not before hitting a three-week high at $7,240 per tonne earlier.
Early gains were driven [...]
Gold down slightly in NY on stronger dollar
by Elaine Frei
The price of gold fell slightly in New York, hurt by a stronger dollar versus the euro on the likelihood that Thursday’s meeting of European Union policymakers will not result in an agreement to help Greece with its mounting debt problems.
The gains by the dollar made gold look less interesting as an investment, sending the [...]
Copper prices up after last week’s declines
by Elaine Frei
Copper prices saw gains Monday on bargain buying after last week’s declines, which sent the price of copper 20 percent lower than its year-to-date peak right after the beginning of January.
March copper added 6 cents to $2.91 per pound in New York trade, while three-month copper on the London Metal Exchange gained $185 to $6,450 [...]
Copper, other metals continue price declines
by Elaine Frei
Copper prices were down significantly again Thursday as the euro fell in relation to the dollar on concerns about soaring debt in some European nations.
March copper was down 9 cents to $2.88 per pound in New York trade, while three-month contracts for the metal used in construction and manufacturing were dropped $200 to $6,390 per [...]
Copper in big declines on economic concerns
by Elaine Frei
Three-month contracts for copper on the London Metal Exchange dropped $230 to $6,590 per tonne on Wednesday, a two-and-a-half month low, as investors continued to worry about how China’s tighter monetary policy might affect demand.
Concerns also focused on the pace of worldwide economic recovery as March copper fell 12 cents to $2.97 per pound in [...]
Copper, other metals gain again
by Elaine Frei
The price of copper was up again Tuesday, helped by the recent good news on US manufacturing and the US gross national product.
March copper was up a cent to $3.09 per pound in New York trade, while three-month contracts for the metal added $29 to $6,820 per tonne on the London Metal Exchange.
Also tending to [...]
Copper gains on US data
by Elaine Frei
Copper prices rose Monday, helped by new US manufacturing data as the Institute for Supply Management reported that its manufacturing index was at 58.4 in January, up from 54.9 in December.
March copper added 3 cents to $3.08 per pound in New York trade, while three-month copper on the London Metal Exchange gained $46 to $6,791 [...]
Copper prices up on buying by funds
by Elaine Frei
Copper prices were up Friday as funds made purchases after Thursday’s price declines, but most other metals prices fell on concerns that, if enacted, the rules for US banks proposed yesterday by US President Barack Obama could limit purchases of commodities.
March copper was 5 cents higher to $3.35 per pound in New York, while three-month [...]
Copper prices lower on economic concerns
by Elaine Frei
The price of copper fell Thursday as the US dollar strengthened, London-monitored stockpiles rose and investors worried about how monetary policy tightening in China and proposed new bank rules in the United States might affect demand and prices for metals.
New US bank rules proposed by President Barack Obama included limits on speculation by commercial banks, [...]
Copper prices lower on China news, US housing starts
by Elaine Frei
Copper prices fell Wednesday on the news that China is moving to limit the amount of credit available in the country in order to make sure that inflation does not spiral out of control.
Despite some analyst predictions that demand for the metal used in construction and manufacturing will remain strong, the new reports have spurred [...]
Gold lower on stronger dollar
by Elaine Frei
The price of gold fell Friday as the US dollar strengthened as more investors bought the greenback in a search for the safest place to put their cash, and on concerns that China’s economy could slow following moves by the Asian nation’s central bank.
February gold was $12.50 lower to $1,130.50 per troy ounce in New [...]
Metals prices mixed in London, New York
by Elaine Frei
Prices were mixed Wednesday for both precious and base metals.
March copper was up 5 cents to $3.40 per pound in New York trade while three-month copper on the London Metal Exchange dropped $50 to $7,417.50 per tonne after Codelco, the state-owned copper miner in Chile, said it will put $2.3 billion into getting at new [...]
Dollar, China data send copper prices higher
by Elaine Frei
Copper prices were higher Monday as the US dollar weakened and new data showed that China’s imports of copper and exports of all products were up significantly in December.
March copper added 4 cents to $3.44 per pound in New York trade while three-month contracts for copper added $102.50 to $7,567.50 per tonne on the London [...]
Jobs data, China concerns hurt copper prices
by Elaine Frei
Copper prices were lower Friday after the US Labor Department reported that the US economy lost 85,000 jobs in December, calling into question the pace and extent of the recovery from recession.
Concerns that China could tighten its monetary policy, cutting demand for copper there, also hurt prices.
March copper was 3 cents lower to $3.40 per [...]
Copper prices up on economic data
by Elaine Frei
The price of copper rose to its highest level in 16 months in afternoon trade in London on Wednesday.
Three-month copper on the London Metal Exchange was up $250.25 to $7,735.25 per tonne in late afternoon trade, while March copper added 8 cents to $3.49 per pound in New York.
The gains came on new data, including [...]