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Stronger pound weakens LME dollar gains

Date: Mon, 25 Jul 2011 | Author: Paul Sanderson

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With most metals settling up on Friday in dollar terms, a stronger pound limited gains when it came to sterling.

Copper finished last week at $9,718 compared to $9,630 on Thursday. However, in sterling terms, this meant an increase of only £7 from £5,953 on Thursday to £5,960 on Friday.

Aluminium closed the week at $2,577 (£1,580) up from $2,503 on Thursday (£1,547).

Lead was at £2,725 (£1,671) on Friday compared to $2,689 (£1,662) on Thursday. Nickel ended the week on £24,100 (£14,781) from $23,750 (£14,683) on Thursday.

Tin finished at £28,350 (£17,387) from $27,970 (£17,292) on Thursday. Zinc traded at $2,465 (£1,512) from $2,461 (£1,508) on Thursday.

Stainless steel remained unchanged on $585 (£359).       
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