Aluminum reverse market in LME period copper follows stock market slide
Source: Internet
Author: User
London, June 8 (Reuters)----London Metal Exchange (LME) aluminum Monday higher, because the cancellation of the increase in warehouse receipts implied demand increased, not by the high impact of inventory innovation. But copper led other industrial metals futures to decline, as economic worries persisted, depressing stock market performance. Three-month copper MCU3 lower 10 U.S. dollars, reported 4,980 U.S. dollars. The three-month aluminium MAL3 plate rose to $1,645 in January 7 to the highest, with a 1,622-dollar meeting at $1,572 last Friday. Inventory cancellations surged to 109,700 tonnes, up from 81,375 tonnes in Friday. But aluminum stocks jumped 38,075 tonnes to record nearly 4.3 million tonnes. Last week's Better-than-expected US jobs data consolidated the view that the recession may be easing, possibly a sign of improved demand for industrial metals. The downgrade of Ireland's sovereign rating has hit the euro, but has boosted the dollar's momentum. The rise in the dollar is bad for industrial metals. Three-month zinc MZN3 low 20 U.S. dollars, reported 1,545 U.S. Three-month lead MPB3 lower 1 US Dollars and report 1,669 dollars. Three-month tin MSN3 received 125 U.S. dollars, reported 14,900 U.S. dollars. The three-month nickel MNI3 closed at $14,300 and last Friday at $14,500. The following is a 1625GMT base metal quote: Contract latest purchase price change% 2008 Close this year% COMEX period copper 225.00-3.10-1.36 139.50 61.29 LME period aluminum 1610.00 38.00 +2.42 15 35.00 4.89 LME period CU 4970.00-20.00-0.40 3060.00 62.42 LME period PB 1645.00-25.00-1.50 999.00 64.66 LME nickel 14150.00-350.00-2.4 1 11700.00 20.94 LME period tin 14900.00 125.00 +0.85 10700.00 39.25 LME period zinc 1540.00-25.00-1.60 1208.00 27.48 shfe Third month aluminum 13295.00 -135.00-1.01 11540.00 15.21 SHFE Third month copper 40410.00-690.00-1.68 23840.00 69.51 shfe Third month zinc 13295.00-120.00-0.89 10120.00 31.37 (end)
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