Copper pares losses

Print this page Posted on : 04-24-2009 by recycleinme.com

Prices of the metal used in power and construction have gained more than 40 per cent this year, mainly due to an increase in cancelled warrants for copper at LME warehouses.

Reuters

London, April 23

Copper slipped 4 per cent before tracking back on Thursday, as a weaker dollar and recovering equity markets provided support despite the bleak economic and demand backdrop.

By 0937 GMT, copper for three month delivery on the London Metal Exchange was steady at $4,535 a tonne from $4,540 at the close on Wednesday and compared with a session low at $4,360.

Aluminium rose $8 to $1,473.

Steel making ingredient nickel traded at $11,650 from $11,520 while zinc traded at $1,458 a tonne from $1,460.

Tin edged up to $12,450 from $12,150 and battery material lead was unchanged at $1,470.

Source : Business Line