Aluminium
Copper prices drop in New York, London
by Elaine Frei
The price of copper fell again Wednesday as concerns continued that civil unrest in North Africa and the Middle East and the resulting rise in oil prices will hurt economic recovery globally and cut demand for copper and industrial metals. Libyan leader Muammar Qadaffi insisted once again that he will not step down as leader [...]
Copper prices rise slightly despite inventory gains
by Elaine Frei
Copper prices were slightly higher Thursday, with March contracts for the metal used in construction and manufacturing adding 2 cents to $4.54 per pound in New York trade, while three-month contracts added $26 to $9,951 per tonne on the London Metal Exchange. Although prices did rise and trade volumes were higher, prices were limited by [...]
Copper gains $15 per tonne in London on China rate hike
by Elaine Frei
Copper prices were mixed Tuesday, as the dropped slightly in New York but added $15 per tonne in London after investors worried about how a new interest rate hike in China would affect demand for the metal there. The People’s Bank of China announced that it would raise the one-year lending rate and the deposit [...]
Copper prices again hit highs in London, New York
by Elaine Frei
Copper prices hit new records in New York and London again Monday as investors worried about supplies, especially from Chile. March contracts for the metal used in manufacturing and construction went as high as $4.61 per pound in New York trade before settling to a loss of less than a penny from Friday’s close to [...]
Gold drops nearly $15 per ounce on Trichet statement
by Elaine Frei
The price of gold was lower in New York on Thursday, dropping $14.60 to $1,318.40 per troy ounce, it’s lowest closing price in nearly four months. The declines came on weaker demand for the precious metal as a place to protect inventors’ cash from inflation after European Central Bank president Jean-Claude Trichet said that the [...]
Copper, tin, gold prices gain as other metals see declines
by Elaine Frei
Copper prices were higher Monday as investors had fewer concerns about demand in China and as the US dollar weakened, making commodities less expensive for buyers using other currencies. The easing of concerns about China’s demand for the metal used in manufacturing and construction came on analyst predictions that the Asian country will keep using [...]
Gold prices rise on physical demand, weaker US dollar
by Elaine Frei
February contracts for gold added $7.70 to 41,368.20 per troy ounce in floor trade in New York, Tuesday, helped out by a weaker US dollar and physical demand in Asia head of the Lunar New Year holidays there at the beginning of February. Demand for gold coins and bars has been reported up by both [...]
Gold drops $28 per ounce on less demand for safety
by Elaine Frei
The price of gold headed lower Friday, to its lowest close in over a month and a half on fewer concerns about the European debt troubles as investors hoped that those problems are on the way to being solved and were less interested in gold as a safe place to put their cash. February contracts [...]
Copper prices hurt by Asia concerns
by Elaine Frei
Copper prices were lower Thursday on concerns that China might tighten monetary policy again, which could hurt demand there, while there were also worries that demand will be lower for the rest of the month, heading into the Lunar New Year holiday season at the beginning of February in Asia. Also pushing prices down was [...]
Copper prices down on fears China will tighten policy again
by Elaine Frei
Copper prices fell Friday in New York and London on concerns by investors that China will continue to tighten monetary policy in order to contain inflation, which could end up cutting demand for copper and other base metals there. February copper was down 5 cents to $4.28 per pound in New York trade, while three-month [...]
Copper, gold in significant declines
by Elaine Frei
Metals prices were lower Tuesday as the US dollar strengthened and as the London Metal Exchange came back to work after an extended New Year’s Day holiday. Copper saw gains on higher inventories which prompted speculation that there will be enough supply to meet demand and on a prediction that prices could drop by as [...]
Copper gains on manufacturing data; gold, silver decline
by Elaine Frei
Metals prices were mixed Thursday as precious metals such as gold and silver declined but copper and some other base metals advanced on signs that manufacturing activity is expanding in China and parts of the United States. March copper added 5 cents to $4.36 per pound in New York trade after going as high as [...]
Copper drops on data, inventory gains
by Elaine Frei
Copper prices were lower Thursday as US markets closed early ahead of the Christmas holiday this weekend, falling on supply concerns and higher stockpiles in London-monitored warehouses. March copper was down 2 cents to $4.26 per pound in holiday-shortened New York trade, while three-month contracts on the London Metal Exchange dropped $50 to $9,300 per [...]
Metals prices mixed in slow trade before holidays
by Elaine Frei
Metals prices were mixed on Wednesday as trade volumes declined ahead of Christmas Day, coming up this weekend, with many investors already away on holiday. Three-month contracts for copper were down $15 to $9,350 per tonne on the London Metal Exchange after prices it new record highs in both London and New York yesterday, while [...]
Copper prices gain on demand hopes, supply concerns
by Elaine Frei
Copper prices were up Monday on expectations that demand will remain healthy in China and after an accident at a main port in Chile interrupted shipments of supplies from the Collahuasi Mine there, causing the mine to declare a force majeure on exports. Gains were limited, however, after the European Central Bank worried out loud [...]
Copper prices fall on economy worries, higher inventories
by Elaine Frei
Copper prices were lower Thursday as inventories in warehouses monitored by the London Metal Exchange continued to rise, and as investors were more reluctant to make risky investments as they continued to worry about debt problems for some European nations. Investors also continued to be concerned that China could still decide to raise interest rates. [...]
Gold gains on drop in Ireland debt rating
by Elaine Frei
Gold prices were up Thursday on a cut in Ireland’s debt rating, but gains were held back by continuing concerns that China will raise interest rates again soon. February gold was up $7.70 to $1,390.80 per troy ounce in early afternoon trade on the Comex in New York after Fitch Ratings cut Ireland’s debt rating [...]
Gold trades in record territory in New York
by Elaine Frei
Gold prices were above record closing high levels in afternoon trade in New York as February contracts added $7.60 to $1,413.80 per troy ounce after going as high as $1,420 per troy ounce earlier in the session. The precious metal last set a record closing high at $1,410.10 on 9 November. The gains for gold [...]
Copper prices see gains on stronger euro, supply concerns
by Elaine Frei
Copper prices were up in New York and London as a stronger euro versus the dollar made that metal and others less expensive for investors making purchases in the euro, while prices were also helped higher by continuing concerns about supplies and after management and the union resumed talks in a miners’ strike in Chile, [...]
Copper prices rise slightly in New York, drop in London
by Elaine Frei
Copper prices were mixed Monday as March copper added half a cent to $3.77 per pound in New York trade on evidence that demand will outstrip copper production in the next few years, but three-month contracts dropped $19 to $8,220 per tonne on the London Metal Exchange even though inventories in LME-monitored warehouses dropped 450 [...]