Aluminium at 2-year low

Print this page Posted on : 10-25-2008 by recycleinme.com

Copper and lead were poised for their biggest weekly declines since the 1980s while aluminium dropped the most in two years as consumer demand for cars and houses crumbles amid the widening world economic slowdown.

Copper lost 7.5 per cent to $3,740 a tonne by 12:22 p.m. on the LME.

Lead for three-month delivery fell $126 to $1,161 a tonne. Aluminium tumbled $62, or 3.1 per cent, to $1,945 a tonnethe most since May 19, 2006. Zinc slid $94 to $1,106, tin dropped $1,150 to $10,850 a tonne and nickel declined $426 to $8,924 a tonne.

Source : Business Line