Zinc, tin fall on profit-taking

Print this page Posted on : 01-28-2009 by recycleinme.com

London, Jan. 27

Tin dropped more than 6 per cent while zinc fell nearly 5 per cent on Tuesday, dragged down by investors cashing in profits after a sharp rise in metals in the previous session, traders said.

Zinc for three-months delivery on the London Metal Exchange was at $1,154 a tonne versus $1,200 on Monday, while tin dropped to $11,600 a tonne from $12,400.

Three-month copper on the London Metal exchange fell to a low of $3,361 a tonne. It traded at $3,376 in LME rings.

Aluminium traded at $1,342 in rings from $1,383 a tonne as stocks on the LME rose 7,800 tonnes to a record 2.72 million tonnes.

Nickel slumped more than 5 percent to a low of $11,299 a tonne but was traded at $11,300.

Lead was down at $1,150 from $1,185.

Source : Business Line