LME Base Metals Finished Mostly Lower Friday
The base metals prices on the London Metal Exchange (LME) finished mostly lower Friday after the Greek crisis intensified.
Greece has edged closer to an exit from the Eurozone after another Key meeting between creditors ended in stalemate. Eurozone leaders will hold an emergency Summit Monday.
Fortunes turned South for the Aluminum industry this year. Most Aluminum producers delivered decent returns last year. In contrast, steel and iron ore companies had a horrid run on the stock markets. The performance of Copper producers was also dismal in Y 2014.
Base metals returned to negative territory in Friday’s LME pre-market after the Greek crisis intensified and on concerns that Chinese demand for Copper will weaken.
The Red metal retreated to 3-month lows and dropped below 5,700 for the 1st time since 18 March.
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The 3-month unofficial Copper price dropped 83, or 1.44%, to 5,666/tonne.
The 3-month unofficial Aluminium price lost 15, or 0.88%, to 1,694/tonne.
The 3-month unofficial Lead price lost 14, or 0.77%, to 1,801/tonne.
The 3-month unofficial Zinc price lost 28, or 1.35%, to 2,052/tonne.
The 3-month unofficial Nickel price lost 130, or 1.02%, to 12,640/tonne.
The 3-month unofficial Tin price was up 350, or 2.34%, to 15,325/tonne.
Have a terrific weekend.
HeffX-LTN
Paul Ebeling
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