Prices of all the base metals came under sever pressure last week registering losses of 1% to 5% weighed down by a firmer dollar and weaker equities, after mixed economic data raised concerns about the sustainability of the global recovery and its impact on demand for industrial metals.
Economic recovery hopes took a hit after US consumer sentiment slipped in October, while business activity in the US Midwest was strong. Separate data showed employment costs rose 0.4% in the third quarter. The data countered optimism on Thursday fed by the US economy's return to growth in the third quarter.
The uncertain economic outlook drove investors into safer havens like the US dollar, which makes dollar-priced metals more expensive for non US investors.
More recently, worries the Chinese will reduce import buying in the fourth quarter have capped gains, especially as demand in other economies cannot make up for reduced Chinese buying.
London Metal Exchange Rates
Cash Buyer
| Product | 22-Oct | 29-Oct | Change | % |
| Zinc | 2240 | 2207 | -33 | -1% |
| Nickel | 19450 | 18455 | -995 | -5% |
| Tin | 14810 | 15300 | 490 | 3% |
| Aluminium | 1948 | 1899 | -49 | -3% |
| Copper | 6565 | 6424 | -141 | -2% |
Change is on October 29th as compared to October 22nd 2009
In USD per tonne
1. Zinc
London Metal Exchange Rates
Cash Buyer
| 22-Oct | 26-Oct | 27-Oct | 28-Oct | 29-Oct |
| 2240 | 2330 | 2317 | 2240 | 2207 |
In USD per tonne
| Date | Rate | Period | Change |
| 29-Oct | 2207 | | |
| 22-Oct | 2240 | WoW | -1.47% |
| 29-Sep | 1866 | MoM | 18.25% |
| 29-Jul | 1677 | QoQ | 31.57% |
| 29-Oct'08 | 1186 | YoY | 86.05% |
2. Nickel
London Metal Exchange Rates
Cash Buyer
| 22-Oct | 26-Oct | 27-Oct | 28-Oct | 29-Oct |
| 19450 | 19125 | 18890 | 18495 | 18455 |
In USD per tonne
| Date | Rate | Period | Change |
| 29-Oct | 18455 | | |
| 22-Oct | 19450 | WoW | -5.12% |
| 29-Sep | 16890 | MoM | 9.27% |
| 29-Jul | 16600 | QoQ | 11.17% |
| 29-Oct'08 | 12500 | YoY | 47.64% |
3. Tin
London Metal Exchange Rates
Cash Buyer
| 22-Oct | 26-Oct | 27-Oct | 28-Oct | 29-Oct |
| 14810 | 15450 | 15500 | 15090 | 15300 |
In USD per tonne
| Date | Rate | Period | Change |
| 29-Oct | 15300 | | |
| 22-Oct | 14810 | WoW | 3.31% |
| 29-Sep | 15100 | MoM | 1.32% |
| 29-Jul | 14950 | QoQ | 2.34% |
| 29-Oct'08 | 15200 | YoY | 0.66% |
4. Aluminium
London Metal Exchange Rates
Cash Buyer
| 22-Oct | 26-Oct | 27-Oct | 28-Oct | 29-Oct |
| 1948 | 1973 | 1981 | 1928 | 1899 |
In USD per tonne
| Date | Rate | Period | Change |
| 29-Oct | 1899 | | |
| 22-Oct | 1948 | WoW | -2.52% |
| 29-Sep | 1782 | MoM | 6.57% |
| 29-Jul | 1797 | QoQ | 5.68% |
| 29-Oct'08 | 2104 | YoY | -9.74% |
5. Copper
London Metal Exchange Rates
Cash Buyer
| 22-Oct | 26-Oct | 27-Oct | 28-Oct | 29-Oct |
| 6565 | 6675 | 6560 | 6470 | 6424 |
In USD per tonne
| Date | Rate | Period | Change |
| 29-Oct | 6424 | | |
| 22-Oct | 6565 | WoW | -2.15% |
| 29-Sep | 5934 | MoM | 8.26% |
| 29-Jul | 5550 | QoQ | 15.75% |
| 29-Oct'08 | 4420 | YoY | 45.34% |
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