Aluminium
Zinc gains as China cancels export rebates
by Elaine Frei
Base metals prices were mixed Thursday, with most higher on the session in London.
Zinc was $45 higher to $1,915 per tonne, a gain of 6 percent on the day after China announced that export rebates would be cancelled from 1 August, a move that could limit entry of zinc from China into world markets.
Still, London […]
Copper prices up on supply concerns
by Elaine Frei
Copper prices were higher Wednesday on concerns that supplies from Mexico won’t improve in the foreseeable future after Grupo Mexico said that it has not yet set a time for the reopening of Cananea mine, which has been closed for a year due to a strike.
Negotiations have been complicated by the fact that the union’s […]
Most base, precious metals prices decline
by Elaine Frei
Most metals prices fell Tuesday as the US dollar strengthened, oil prices declined, and there were worries about slow demand for several of the metals.
September copper was down 2 cents to $3.59 per pound in New York while three-month copper in London dropped $50 to $7,945 per tonne even though London Metal Exchange stockpiles remain […]
Metals prices up on weaker dollar
by Elaine Frei
Base metals prices were up Monday as the dollar weakened and oil prices rose a bit on more trouble in Nigeria.
After early declines, September copper had added 1 cent to $3.61 per pound in New York at last report, while three-month copper was up $39 to $7,995 per tonne in London on a weaker dollar […]
Copper prices down on dollar, demand
by Elaine Frei
The price of copper fell Thursday on a stronger dollar which reduced demand for the metal as an inflation hedge and after imports to China were reported lower last month.
Copper imports to China were said to be down 20 percent in June from May levels as most construction projects ahead of the Olympics have been […]
Aluminium down on rising inventories, weak demand
by Elaine Frei
Metals prices were lower Wednesday, pushed lower by more declines in the price of crude oil.
Aluminium was $90 lower to $3,125 per tonne and went as low as $3,083 per tonne on rising inventories and on weak demand for carmakers after London Metal Exchange stockpiles added 24,825 tonnes to 1.115 million tonnes.
September copper dropped 5 […]
Gold gains as other metals prices decline
by Elaine Frei
Gold prices were up early on Tuesday, going as high as $989.60 per troy ounce in New York as the US dollar weakened, but prices fell back and August contracts for the metal ended just $5 higher at $978.70 per troy ounce after crude oil prices dropped steeply on economic concerns after Federal Reserve chairman […]
Gold gains on Iran worries
by Elaine Frei
Gold prices were higher Monday on speculation that Israel or the United States are getting ready for an attack on Iran which sent investors looking for a safe place to put their money.
The metal also gained value after the dollar dropped versus the euro following gains early in the session.
August gold was $13.10 higher to […]
Gold gains, follows oil higher
by Elaine Frei
Gold prices followed crude oil higher Thursday on renewed worries about a possible conflict in the Middle East after Iran carried out more long-range missile tests in the Persian Gulf, while declines in equities markets also pushed metals prices higher.
August gold was up $13.40 to $942 per troy ounce in New York while September silver […]
Aluminium, lead among metals gainers
by Elaine Frei
Most metals prices were higher Wednesday as the US dollar weakened and crude oil prices gained back some of their early-week declines.
Among base metals, aluminium added $45 to $3,190 per tonne in London but was still off Monday’s record of $3,320 per tonne on continuing supply worries due to energy shortages to Chinese smelters.
Lead added […]
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 […]
Aluminium prices up on China power cuts
by Elaine Frei
Aluminium prices in London were higher Monday on reports of power shortages at smelters in northern China which cut output there.
The cuts, which affect nearly 5 percent of China’s aluminium output, came on government orders so that farmers in the region will have enough power to operate.
In late afternoon trade in London, aluminium was trading […]
Copper prices down on US jobs data
by Elaine Frei
September copper dropped 11 cents to $3.95 per pound in New York on Thursday after the US Labor Department reported that 62,000 non-farm jobs were lost in June and that new jobless claims were up last week.
Prices were also pushed lower by comments from European Central Bank president Jean-Claude Trichet that indicate there will be […]
Gold, silver advance as platinum, palladium prices drop
by Elaine Frei
Precious metals prices were mixed Wednesday in New York after the dollar weakened again and crude oil set new prices records.
August gold added $2 to $946.50 per troy ounce while September silver gained 14 cents to $18.43 per troy ounce, but October platinum dropped $11.70 to $2,077 per troy ounce and palladium fell $2.05 to […]
Precious metals prices see gains
by Elaine Frei
Metals prices were higher Tuesday as the US dollar declined slightly in relation to the euro and yen in afternoon trade in New York.
October platinum was $16.70 higher to $2,088.70 per troy ounce on concerns about the effect of a smelter closure in South Africa on supply and on plans for upcoming strikes, also in […]
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) […]
Gold, copper up on higher oil prices
by Elaine Frei
Most metals prices were higher Friday and gold hit its highest level in at least a month as investors looked for safe places to put their money to protect it from inflation after crude oil prices rose as high as $142.99 per barrel in New York during the session, a new record and the US […]
Gold adds $33 per ounce on interest rate, oil price speculation
by Elaine Frei
Metals prices rose Thursday as the dollar weakened after Wednesday’s decision by the US Federal Reserve to hold interest rates at 2 percent.
Gold had its biggest one-day percentage gain since late February 2007 as it added $33.20, or around 3.5 percent, to $915.50 per troy ounce on sentiment that the Federal Reserve will not be […]
Metals prices follow oil lower
by Elaine Frei
Precious metals prices were lower Wednesday, with gold declining as falling oil prices reduced demand for the metal as a safe haven against inflation.
August gold was down $9.20 to $882..40 per troy ounce, while September silver was 15 cents lower to $16.59 and October platinum dropped $22.50 to $2,009.
In base metals, copper also followed oil […]
Gold adds value on weak dollar
by Elaine Frei
Gold prices were up Tuesday but other precious metals saw declines.
August gold added $4.30 to $891.50 per troy ounce on a weaker dollar and less chance that the Federal Reserve will hike US interest rates anytime soon after new reports showed US consumer confidence down and home prices 15 percent lower in April, having extended […]