LME copper steady, nickel soft

Print this page Posted on : 07-28-2007 by recycleinme.com

Copper steadied on Friday as fears of credit risk in global markets were balanced by industrial action in the world’s top copper producer.

Copper for three-months delivery on the London Metal Exchange fell to $7,720/7,740 a tonne at 0827 GMT, down $40 against Thursday’s close.

Nickel, a key ingredient of stainless steel shed $200 to $31,150/31,350 a tonne.

Lead was $10 up at $3,090/3,110. The metal hit an all time high of $3,500 earlier in the week. Aluminium was $2 softer at $2,735/2,738 a tonne.

Tin was at $15,250/15,350 versus $15,495/15,500 while zinc was $15 softer at $3,480/3,500.

Source : Business Line