Aluminium
Metals up as investors seek bargains
by Elaine Frei
Most metals prices saw gains Wednesday as lower prices after recent declines brought bargain-hunters out to buy.
September copper added 12 cents to $3.35 per pound in New York while three-month copper added almost 5 percent to $7,482 per tonne in London before ending the session at $7,400 per tonne, a gain of $250 on the [...]
Copper prices down 20 percent from record
by Elaine Frei
Most metals prices were lower Tuesday as new demand worries emerged for copper and zinc saw gains in inventories.
September copper was down 7 cents to $3.23 per pound in New York trade while three-month copper dropped $170 to $7,160 per tonne in late-afternoon trade in London as investors worried about demand falling further as global [...]
Copper prices fall in sell-off
by Elaine Frei
Copper was at a six-month low in London Monday as prices fell as low as $7,315 per tonne for three-month contracts and it closed $90 to $7,410 per tonne while September copper dropped 4 cents to $3.29 per pound in New York.
The declines came on a sell-off prompted by a stronger US dollar and on [...]
Weak euro sends metals prices lower
by Elaine Frei
Metals prices fell Friday as the US dollar strengthened over the euro, crude oil prices dropped again, and it looked as if Japan is about to enter a recession.
September copper was down 9 cents to $3.33 per pound in New York while three-month copper dropped $255 to $7,410 per tonne in London after going as [...]
Copper gains on demand hopes
by Elaine Frei
Copper prices rose slightly in New York Thursday on a gain in oil and other industrial metals prices and on the possibility that lower prices recently could boost demand, especially in China.
In midday trade in New York September copper added 2 cents to $3.44 per pound while three-month copper was up $31 to $7,646 per [...]
Gold, silver prices see declines
by Elaine Frei
Metals prices were mixed on Wednesday, with precious metals lower but most base metals seeing gains.
December gold was $3.60 lower to $882.50 per troy ounce in New York as oil prices continued to decline, while September silver dropped 7 cents to $16.51 per troy ounce.
Among base metals, December copper added 1 cent to $3.42 per [...]
Gold drops $20 on oil, dollar
by Elaine Frei
Metals prices were mixed Tuesday as gold saw gains on declines in crude oil prices and as the US dollar strengthened in relation to the euro.
Decmeber gold was down $20.60 shortly before the close of floor trade in New York to $887.30 per troy ounce, while September silver dropped 58 cents to $16.56 per troy [...]
Copper, other metals down on rising inventories
by Elaine Frei
Copper prices fell substantially Monday as new data showed that manufacturing in China contracted in July for the first time in at least three years and after London Metal Exchange stockpiles added 1,550 tonnes on the session to 146,200 tonnes.
The rising stockpiles reflect declining demand for the metal globally.
September copper was down 14 cents to [...]
Copper drops 8 cents per pound in New York
by Elaine Frei
Metals prices were lower Friday as the US dollar strengthened and stockpiles of some base metals grew in London Metal Exchange warehouses.
September copper was 8 cents lower to $3.58 per pound in New York and three-month copper dropped $160 to $7,900 per tonne on weak economic data from the United States and after LME inventories [...]
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 [...]