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LME prices steady, but copper creeps up

Date: Thu, 18 Aug 2011 | Author: Paul Sanderson

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After more than a week of decline, the price of copper finally picked up yesterday.

The metal was trading at $8,895 (£5,382) for three-month delivery up from $8,777 (£5,363) on Wednesday.

Aluminium was at $2,383 (£1,442) but a weaker dollar trading at $1.65 to the pound meant a sterling loss even though the dollar price went up from $2,373 (£1,450) on Wednesday. Alloy settled at $2,260 (£1,367) from $2,250 (£1,375) on Wednesday.

Lead priced at $2,387 (£1,444) from $2,358 (£1,433) the day before. Nickel was at $21,650 (£13,099) from Wednesday’s $21,550 (£13,167).

Tin was up to $24,400 (£14,763) from $24,045 a day earlier. Zinc was priced at $2,190 (£1,325) from $2,156 (£1,317) on Wednesday.

Steel was at $565 (£345) unchanged in dollars but down to £342 in sterling.

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