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Copper drops again below $9,000

Date: Mon, 5 Sep 2011 | Author: Paul Sanderson

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Copper was continuing to fall back this morning below the $9,000 level on the LME.

With poor US job data emerging at the end of last week and continuing fears over European debt, the metal was on a downward trend after picking up in the middle of last week.

At 11:49am today, copper was at $8,990.

On Friday, copper settled at $9,072 (£5,594) down from Thursday’s $9,130 (£5,636).

Aluminium was little changed at the end of last week at $2,437 (£1,447) from Thursday’s $2,436 (£1,504) although obviously the stronger dollar had a big impact on the sterling price. Alloy was at $2,300 (£1,418) on Friday from $2,340 (£1,444) on Thursday.

Lead finished last week at $2,505 (£1,545) down from $2,541 (£1,569) on Thursday. Nickel was priced at $21,600 (£13,319) on Friday from $21,820 (£13,469) on Thursday.

Tin was up a touch to $24,195 (£14,920) from Thursday’s $24,150 (£14,907). Zinc was at $2,218 (£1,368) on Friday from $2,235 (£1,380) the day before.

Steel was up to $585 (£361) on Friday from $580 (£358) on Thursday.

 

Category: Recycling
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