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Minor movement for metals ahead of key euro summit

Date: Wed, 7 Dec 2011 | Author: Paul Sanderson

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There was only a little bit of movement in price for metals yesterday on the LME as markets awaited the eurozone summit at the end of this week.

However, with a deal and probable treaty likely, there is optimism in the markets. Copper for example picked up in early trading today and had reached $7,893 (£5,060) per tonne.

Yesterday, three-month copper was trading at $7,792 (£4,984) down from $7,872 (£5,029) on Monday.

Aluminium was down a touch to $2,140 from $2,106 on Monday but remained on £1,346. Alloy was unchanged on $1975 but was up £1 to £1,263.

Lead was down to $2,083 (£1,332) from $2,095 (£1,338) on Monday while Nickel increased to $18,130 (£11,596) from $17,925 (£11,452) a day earlier.

Tin was up to $19,945 (£12,757) from Monday’s $19,875 (£12,698). Zinc fell to $2,010 (£1,286) from Monday’s $2,016 (£1,288).

Steel dropped a little to $555 (£355) from $560 (£358).  

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