Aluminium
Base metals back to declines
by Elaine Frei
After a day of gains yesterday, base metals prices dropped again on Wednesday as investors worried about a contracting economy and consequent slowing of demand for metals to build houses, make cars, and manufacture other consumer goods.
Prices fell after reports showing that retail sales were down in September in the United States and that manufacturing [...]
Copper up but closes well below session highs
by Elaine Frei
Most base metals prices were higher Tuesday.
Three-month copper added $185 to $5,300 per tonne on the London Metal Exchange while December copper was up 8 cents to $2.39 per pound in New York
Copper had gone as high as $5,615 per tonne in London, but dropped on pessimism after European equities markets closed off session highs [...]
Copper adds 17 cents per pound in New York
by Elaine Frei
Base metals prices were higher Monday as global equities markets tried to bounce back from last week’s steep declines and after European leaders agreed over the weekend to help out banks in the region.
December copper was 17 cents higher to $2.31 per pound in New York and three-month copper jumped $315 to $5,115 per tonne [...]
Copper drops $515 per tonne in London
by Elaine Frei
Metals prices fell significantly Friday after equities markets plunged globally on concerns that a recession is inevitable.
The price of copper is now down 46 percent since it set a record high in July, falling $515 to $4,800 per tonne in London after going as low as $4,570 per tonne, a 14 percent drop to near [...]
Copper gains $75 despite demand concerns
by Elaine Frei
Base metals prices were higher Thursday even though prospects for demand for the metals remained poor, with most gains supported by the prospect that miners will cut output.
Three-month copper added $75 to $5,240 per tonne and went as high as $5,429 per tonne in London while December copper added 5 cents to $2.41 per pound [...]
Industrial metals suffer on economy concerns
by Elaine Frei
Base metals prices were lower again Wednesday on continuing worries about the state of the global economy, but a move by the US Federal Reserve, the European Central Bank, the Bank of England and several other central banks to cut interest rates, generally by about half a percentage point each, brought most prices up from [...]
Copper drops 17 cents in New York
by Elaine Frei
Most metals prices were lower Monday ahead of the US House of Representatives vote ultimately that turned down a proposal to bail out the US financial sector.
December copper was down 17 cents to $2.91 per pound in afternoon trade in New York while three-month copper was down $335 to $6,440 per tonne in London as [...]
Bailout uncertainty slows copper trade
by Elaine Frei
Copper prices fell Friday on low trade volumes as investors fretted about demand growth and waited for something to happen in negotiations over the US bailout plan after talks faltered late Thursday when some Republicans would not agree to back the plan that had been agreed in principle earlier in the day.
December copper was down [...]
Nickel prices drop on higher inventories
by Elaine Frei
Most base metals prices were up Thursday, but nickel saw declines on more gains in inventories.
Nickel prices were down by $50 to $17,150 per tonne in London Thursday as inventories were up to 53,796 tonnes, the most in over nine years.
The metal also declined on a prediction from Norilsk Nickel (RTS: GMKN; MICEX: GMCK), the [...]
Copper prices fall in London, New York
by Elaine Frei
Most base metals were lower again Wednesday as investors worried about the plan for the US government to bail out the financial sector while business sentiment in Germany declined for the fourth consecutive month as the Ifo business confidence index dropped from 94.8 in August to 92.9 this month.
December copper was down 5 cents to [...]
Copper declines on profit-taking, bailout concerns
by Elaine Frei
Copper prices were lower Tuesday as investors took profits after Monday’s gains and as they worried about how the plan by the US government to spend up to $700 billion to buy up bad debt from banks would impact metals markets.
December copper was down 10 cents to $3.15 per pound in New York, while three-month [...]
Dollar declines push metals prices higher
by Elaine Frei
Metals prices were higher Monday as the US dollar declined on concerns about the financial sector and on sentiment that the Federal Reserve could cut US interest rates again.
Gold was up on the perception that it is a safe investment in a volatile market environment and on worries that confidence will not be enhanced much [...]
Copper, other industrial metals in gains
by Elaine Frei
Base metals prices were higher Friday on a better outlook for demand after the US and other governments began to put plans into place to deal with the effects of the credit crisis on the financial sector.
December copper added 11 cents to $3.18 per pound in New York while three-month copper added $311 to $7,060 [...]
Precious metals gain on weaker dollar
by Elaine Frei
Metals prices were higher Friday as the US dollar weakened versus the euro, leading investors to look for places to put their money so that it is protected from inflation.
December gold added $19 to $764.50 per troy ounce while December silver was up 24 cents to $10.80 per troy ounce and October platinum jumped $58.30 [...]
Copper prices up on Chile earthquake
by Elaine Frei
The price of copper was up in after-hours trade on reports that a magnitude 5.8 earthquake hit near copper-mining regions in Chile, although later reports from at least one mine said that there were no disruptions due to the quake.
Three-month copper added $25 in London to $6,840 per tonne but after the news of the [...]
Copper drops on demand worries, inventories
by Elaine Frei
Metals prices fell Tuesday on cheaper oil, a stronger US dollar and on concerns about demand for base metals.
Copper was down 1 cent to $3.09 per pound in New York while three-month copper dropped $85 to $6,815 per tonne in London after going as low as $6,778 per tonne earlier as inventories in London Metal [...]
Copper losses pull other metals prices lower
by Elaine Frei
Copper prices were lower Friday, triggering a decline in other base metals prices, while most precious metals prices were also down on the session.
December copper was 17 cents lower to $3.10 per pound in New York, while three-month copper was down $326 to $6,900 per tonne in London on demand worries caused by gains in [...]
Aluminium falls amid gains for other base metals
by Elaine Frei
Base metals prices were mixed Wednesday, although aluminium was down $19.50 to $2,675.50 per tonne after London Metal Exchange inventories added 2,650 tonnes to 1.17 million tonnes, the most aluminium in storage in four and a half years.
December copper was up 4 cents to $3.31 per pound in New York in afternoon trade while three-month [...]
Copper prices lower on jump in inventories
by Elaine Frei
Most base metals prices were lower Thursday on demand concerns and as inventories of some soared.
December copper added 4 cents to $3.40 per pound in New York while three-month copper was down $120 to $7,535 per tonne after London Metal Exchange inventories added 2,200 tonnes to reach a six-month high and on worries that demand [...]
Most metals higher on oil; silver prices decline
by Elaine Frei
Most metals prices were higher Wednesday as oil prices climbed again and the US dollar weakened in relation to the euro.
A few metals prices, however, fell including December silver, which dropped 11 cents to $13.57 per troy ounce in New York trade, while in London three-month aluminium was down $3 to $2,765 per tonne even [...]