Copper steady on bargain hunting

Print this page Posted on : 11-10-2007 by recycleinme.com

London Metal Exchange futures were steady on Friday as consumer buying and the prospect of merger between two of the world’s leading mining companies offset worries about rising stocks.

Copper for delivery in three months eased $30 to $7,170/7,190.

On Thursday, benchmark copper dipped to $7,130, matching a low on Sept.10. Aluminium was steady at $2,638/2,643 up $8.

Zinc was down 1.3 per cent or $35 at $2,740/2,760.

Three-months lead gained $55 to $3,525/3,545, while tin eased to $16,750 /16,950, down $25 and nickel fell $250 to $32,500/32,700.

Source : Business Line