Register for weekly alerts

LME prices stable on Friday but fears still persist over euro crisis

Date: Mon, 12 Dec 2011 | Author: Paul Sanderson

Image for LME prices stable on Friday but fears still persist over euro crisis

The value of metals on Friday on the LME barely changes, but there were signs that the markets were still concerned about the euro crisis.

In early trading this morning, $200 was wiped off the value of copper as traders digested the fiscal union unveiled by the euro summit on Friday. While appearing to be a strategy to deal with the crisis over the long-term, there appears little to help in the shorter term.

On Friday, three-month copper was barely changed on $7,824 (£4,986) compared to Thursday’s $7,823 (£4,972).

Aluminium also hardly changed at $2,068 (£1,318) on Friday compared to $2,069 (£1,315) the day before. Alloy was priced at $1,950 (£1,243) at the end of last week compared to Thursday’s $1,925 (£1,224).

Lead was down to $2,109 (£1,344) on Friday compared to $2,135 (£1,357) a day earlier. Nickel increased at the end of last week to $18,325 (£11,677) from Thursday’s $18,200 (£11,568).

Tin fell to $20,275 (£12,920) on Friday from $20,525 (£13,046). Zinc dropped to $1,991 (£1,269) from Thursday’s $2,021 (£1,285).

Steel was down to $560 (£357) from $565 (£359).  

Category: Recycling
Recoup Conference 2017Recycling UKNovelis Every Can CountsHanicke Robins Sanderson