LME zinc hits 4-month peak

Print this page Posted on : 09-07-2010 by recycleinme.com

London, Sept. 6

Copper prices rose near four-month highs on Monday as investors bet on improved demand following better-than-forecast jobs data in the US, the world's largest economy.

Benchmark copper for three-month's delivery on the London Metal Exchange traded at $7,675 a tonne in official midday rings from a close of $7,640 on Friday, when the metal used in power and construction hit a four-month high of $7,750.

Tin was last bid at $21,350 a tonne versus $21,200.

Stainless steel-making ingredient nickel traded at $22,000 a tonne versus $21,600, while zinc traded at $2,176 a tonne versus $2,152, having earlier hit its highest since early May at $2,202.

Aluminium was traded at $2,178.50 from $2,148, having hit a one month high earlier of $2,190, while battery material lead traded at $2,176 from $2,168, having hit a one-month high earlier of $2,210.

Source : Business Line