Copper, tin in backwardation

Print this page Posted on : 04-23-2009 by recycleinme.com

Copper prices slipped on Wednesday as the market focused on poor prospects for demand and the economy, amid expectations that Chinese government and private buying could be drawing to a halt.

Benchmark copper on the London Metal Exchange was trading at $4,410 a tonne at 0939 GMT compared with a last bid at $4,505 on Wednesday when the metal used widely in power and construction touched a two-week low of $4,369.

Tin was at $12,060 a tonne from $12,150 on Tuesday, battery material lead at $1,415 from $1,462 and stainless steel ingredient nickel at $11,240 from $11,505.

Zinc was at $1,425 from $1,475 and aluminium at $1,442 from $1,458 at the close on Tuesday.

Source : Business Line