LME copper falls

Print this page Posted on : 02-26-2010 by recycleinme.com

London, Feb. 25

Copper fell on Thursday as investors grew cautious about recovery prospects after digesting the US Fed Chairman, Mr Ben Bernanke’s comments, and as the dollar rose versus the euro on renewed worries over Greece’s debt.

Benchmark copper for three- month’s delivery on the London Metal Exchange traded at $ 7,105 a tonne at 1019 GMT from a close of $ 7,155 on Wednesday.

Latest LME data showed copper stocks fell 2,450 tonnes to 550,225 while cancelled warrants — material earmarked for delivery out of warehouses — rose to 16,600 tonnes versus 14,000 tonnes.

Among other industrial metals, aluminium was at $ 2,102 a tonne from $ 2,137.

Zinc was at $ 2,186 from $ 2,204, while battery material lead was at $ 2,182 from $ 2,215.

Tin was at $ 16,950 from $ 16,975, and nickel was at $ 20,450 from $ 20,470.

Source : Business Line