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Stronger pound has impact on sterling metal prices

Date: Wed, 21 Dec 2011 | Author: Paul Sanderson

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While many metals were creeping up in dollar terms on the LME, a strong pound knocked back these gains.

This is because it appears currency investors are looking to take on a bit more risk at the moment.

Three-month copper was priced yesterday at $7,302 (£4,671) from Monday’s $7,300 (£4,709).

Aluminium was valued at $1,989 (£1,272) on Tuesday from $1,961 (£1,265) at the beginning of the week. Alloy was priced at $1,898 (£1,214) yesterday compared to $1,895 (£1,223) on Monday.

Lead was at $1,950 (£1,247) from $1,953 (£1,260). Nickel increased to $18,575 (£11,882) from $18,380 (£11,857).

Tin was priced at $18,750 (£11,994) from Monday’s $18,675 (£12,048). Zinc was at $1,853 (£1,185) from $1,855 (£1,197).

Steel fell to $535 (£342) from $540 (£348).  

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