Metals continue to drift lower on LME

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Prices for metals on the LME are falling as economic data remains poor.

Germany, Europe’s largest economy, only posted growth of 0.1 per cent between April and June, which added to fears that the eurozone debt crisis was not over.

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Copper was down to $8,777 (£5,363) on Tuesday from $8,843 (£5,420) on Monday.

Aluminium settled at $2,373 (£1,450) on Tuesday down from $2,383 (£1,460) seen a day earlier. Alloy was at $2,250 (£1,375) compared to $2,270 (£1,391) seen at the start of the week.

Lead fell to $2,345 (£1,433) from $2,358 (£1,445) the day before. Nickel was actually up to $21,550 (£13,167) from $21,355 (£13,088) the day before.

Tin dropped to$24,045 (£14,691) from $24,600 (£15,077) on Monday. Zinc was down to $2,156 (£1,317) from $2,185 (£1,339).

Steel was down to $565 (£345) from $566 (£347) on Monday.