Copper falls in early trade over economic woes

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The global economy continues to concern the metals markets.

The eurozone crisis is dragging on, the Democrats and Republicans in the US may not agree a deal to combat its debt, and China is also concerned that its economy may suffer as a result of what is going on elsewhere.

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As a result, in early trading today, copper was down to $7,330 (£4.628) at 10:15am. This is a significant drop on Friday’s $7,605 (£4,801), which in itself was up on Thursday’s $7,525 (£4,771).

Aluminium on Friday was little changed at $2,106 (£1,330) from Thursday’s $2,105 (£1,335). Alloy was up on Friday to $2,010 (£1,269) from Thursday’s $1,990 (£1,262).

Lead increased at the end of last week to $2,025 (£1,278) from Thursday’s $1,999 (£1,268). Nickel increased to $17,920 (£11,313) on Friday from Thursday’s $17,830 (£11,306).

Tin was up to $21,550 (£13,605) on Friday compared to $21,200 (£13,442) on Thursday. Zinc was priced at $1,936 (£1,222) on Friday from $1,921 (£1,218) the day before.

Steel was unchanged on $525 but was down in sterling by £2 to £331.