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Copper drops to below £4,500 as dramatic LME falls continue

Date: Mon, 26 Sep 2011 | Author: Paul Sanderson

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A sixth day of consecutive falls on the LME continued in early trading this morning.

Copper continued its dramatic drop sinking to $6,864 (£4,443) at 6:15am GMT. With the official price of copper $8,810 (£5,576) on 16 September, the metal has lost almost $2,000 and over £1,000 in little more than a week.

Aluminium this morning was down to $2,175 (£1,408), while lead and zinc were at $1,857 (£1,202) and $1,828 (£1,183) respectively. Nickel had dropped to $17,217 (£11,144) while tin was at $18,595 (£12,036).

On Friday the official price for three month copper was $7,260 (£4,714) down from Thursday’s $7,805 (£5,061).

Aluminium was official priced at $2,205 (£1,432) on Friday compared to $2,264 (£1,468) on Thursday. Alloy edged down to $2,210 (£1,435) at the end of last week compared to Thursday’s $2,220 (£1,440).

Lead on Friday was at $2,022 (£1,313) compared to $2,159 (£1,400) the day before. Nickel was at $18,000 (£11,686) on Friday compared to Thursday’s $19,550 (£12,678).

Tin was down to $19,000 (£12,335) at the end of last week compared to Thursday’s $20,025 (£12,986). Zinc on Friday was officially priced at $1,955 (£1,269) from $2,000 (£1,297) on Thursday.

Steel was down to $555 (£360) from Thursday’s $560 (£363).   

 

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