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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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, [...]