Base metal prices, except nickel, continue to plunge last week as growing concerns over the euro zone's fiscal health and tighter monetary policy in top consumer China drove investors away into the safety of the US dollar.
The euro plunged to a more than eight month low against the dollar on concerns over the fiscal health of debt laden countries such as Greece, Portugal and Spain.
A rising US currency makes commodities priced in dollars more expensive for holders of other currencies.
Analysts said Chinese business conditions could further slow with the onset of the New Year holiday, set to begin on February 14th 2010. Mr Justin Lennon analyst with Mitsui Bussan Inc said “Combined with the fact that China's cash flows are being constrained through bank credit restrictions, they are probably also seeking to hold their cash flows in because it's the end of their year.”
London Metal Exchange Rates
Cash Buyer
| Product | 28-Jan | 04-Feb | Change | % |
| Zinc | 2155 | 2122 | -34 | -2% |
| Nickel | 18125 | 18725 | 600 | 3% |
| Tin | 17625 | 17040 | -585 | -3% |
| Aluminium | 2126 | 2061 | -65 | -3% |
| Copper | 7042 | 6853 | -189 | -3% |
Change is on February 4th as compared to January 28th 2010
In USD per tonne
1. Zinc
London Metal Exchange Rates
Cash Buyer
| 28-Jan | 01-Feb | 02-Feb | 03-Feb | 04-Feb |
| 2155 | 2165 | 2157 | 2092 | 2122 |
In USD per tonne
| Date | Rate | Period | Change |
| 04-Feb | 2122 | | |
| 28-Jan | 2155 | WoW | -1.55% |
| 04-Jan | 2575 | MoM | -17.61% |
| 04-Nov | 2201 | QoQ | -3.61% |
| 04-Feb'09 | 1160 | YoY | 82.89% |
In USD per tonne
2. Nickel
London Metal Exchange Rates
Cash Buyer
| 28-Jan | 01-Feb | 02-Feb | 03-Feb | 04-Feb |
| 18125 | 18050 | 18100 | 18000 | 18725 |
In USD per tonne
| Date | Rate | Period | Change |
| 04-Feb | 18725 | | |
| 28-Jan | 18125 | WoW | 3.31% |
| 04-Jan | 18850 | MoM | -0.66% |
| 04-Nov | 18160 | QoQ | 3.11% |
| 04-Feb'09 | 11600 | YoY | 61.42% |
In USD per tonne
3. Tin
London Metal Exchange Rates
Cash Buyer
| 28-Jan | 01-Feb | 02-Feb | 03-Feb | 04-Feb |
| 17625 | 16595 | 16325 | 16050 | 17040 |
In USD per tonne
| Date | Rate | Period | Change |
| 04-Feb | 17040 | | |
| 28-Jan | 17625 | WoW | -3.32% |
| 04-Jan | 17425 | MoM | -2.21% |
| 04-Nov | 14950 | QoQ | 13.98% |
| 04-Feb'09 | 11400 | YoY | 49.47% |
In USD per tonne
4. Aluminium
London Metal Exchange Rates
Cash Buyer
| 28-Jan | 01-Feb | 02-Feb | 03-Feb | 04-Feb |
| 2126 | 2086 | 2075 | 2046 | 2061 |
In USD per tonne
| Date | Rate | Period | Change |
| 04-Feb | 2061 | | |
| 28-Jan | 2126 | WoW | -3.03% |
| 04-Jan | 2225 | MoM | -7.37% |
| 04-Nov | 1892 | QoQ | 8.93% |
| 04-Feb'09 | 1382 | YoY | 49.13% |
In USD per tonne
5. Copper
London Metal Exchange Rates
Cash Buyer
| 28-Jan | 01-Feb | 02-Feb | 03-Feb | 04-Feb |
| 7042 | 6852 | 6860 | 6675 | 6853 |
In USD per tonne
| Date | Rate | Period | Change |
| 04-Feb | 6853 | | |
| 28-Jan | 7042 | WoW | -2.68% |
| 04-Jan | 7464 | MoM | -8.19% |
| 04-Nov | 6570 | QoQ | 4.31% |
| 04-Feb'09 | 3315 | YoY | 106.73% |
In USD per tonne
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