The value of metals on Friday on the LME barely changes, but there were signs that the markets were still concerned about the euro crisis.
In early trading this morning, $200 was wiped off the value of copper as traders digested the fiscal union unveiled by the euro summit on Friday. While appearing to be a strategy to deal with the crisis over the long-term, there appears little to help in the shorter term.
On Friday, three-month copper was barely changed on $7,824 (£4,986) compared to Thursday’s $7,823 (£4,972).
Aluminium also hardly changed at $2,068 (£1,318) on Friday compared to $2,069 (£1,315) the day before. Alloy was priced at $1,950 (£1,243) at the end of last week compared to Thursday’s $1,925 (£1,224).
Lead was down to $2,109 (£1,344) on Friday compared to $2,135 (£1,357) a day earlier. Nickel increased at the end of last week to $18,325 (£11,677) from Thursday’s $18,200 (£11,568).
Tin fell to $20,275 (£12,920) on Friday from $20,525 (£13,046). Zinc dropped to $1,991 (£1,269) from Thursday’s $2,021 (£1,285).
Steel was down to $560 (£357) from $565 (£359).