Metals mixed in LME trade

Print this page Posted on : 01-23-2009 by recycleinme.com

London, Jan. 22

Base metals were mixed on Thursday, as rising inventories offset a recovery in sentiment in broader financial markets.

At 1128 GMT, three-month copper was trading at $3,184 a tonne, down $31 on Wednesday's kerb. Aluminium bounced back from its selloff Wednesday and was up $17 at $1,352/tonne. Zinc was down $11.50 at $1,138/tonne, lead rose $12 to $1,098/tonne, nickel was up $220 at $11,125/tonne and tin fell $150 to $11,400/tonne.

Inventories for aluminium and copper continued their rapid ascent Thursday. Aluminium stocks rose 34,250 tonnes to a record high, surpassing the previous record of 1994 when a flood of Russian aluminium arrived at LME warehouses.

Source : Business Line