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Copper drops below $9,000 level on LME

Date: Wed, 10 Aug 2011 | Author: Paul Sanderson

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On another bad day on the LME yesterday, three month copper dropped below the $9,000 level to settle at $8,868 (£5,429).

By 2 August, copper had once again broken through the £6,000 barrier, but has seen a rapid decline since then. Levels like this were last seen in mid-May this year. A day earlier, the metal was threatening to sink below $9,000 when it settled at $9,069 (£5,537).

Aluminium only dropped slightly to $2,420 (£1,482) from $2,433 (£1,485) on Monday. Aluminium alloy was down a touch to $2,260 (£1,384) on Tuesday from $2,270 (£1,386) the day before.

Lead was at $2,287 (£1,400) down from Monday’s $2,346 (£1,432). Nickel was priced at $21,650 (£13,255) also dropping from $22,275 (£13,600) a day earlier.

Tin was down to $23,150 (£14,173) from $23,800 (£14,531) on Tuesday. Zinc fell to $2,133 (£1,306) from $2,172 (£1,326) on Tuesday.

Steel also fell to $570 (£349) after posting $575 (£351) the day before.

 

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