Copper and Zinc ended near fresh record highs on Monday on the London Metal Exchange as analysts said. Analysts anticipated the prices to remain highly fickle ahead of the Easter holidays this weekend and possibly for some profit-taking to hit after the latest leg up.
Copper shoots a new high of $5,940 a tonne on the electronic trading system and finished the day at $5,910 a tonne, up $ 185 from Friday. The red metal has gained some 24% over the past month and is increased by a third since the end of 05. Supply interruptions and strikes have highlighted scarce availability, while LME warehouse inventories are being eroded. On Monday, stocks fell 900 to 111,800 tonnes.
Zinc finished at $2,911 up $106. Nickel closed at $17,425, up $ 575, after touching $17,650, the highest since January 04. Aluminium ended at $2,574 against $2,540 aided by a 7,575- tonne stock fell. Lead closed at $1, 182/1,184, up from $8,600/8,625 against $8,430.
|
|
|
|
|
| Posted : 4/11/2006 |
|
|
|
|
