Base metals exhibited positive tendencies last week on a rare set of positive events in the US. The markets cheered gains in existing home sales and declines in US jobless claims. Supply side concerns, due to strike etc, also supported prices for copper.
While USW labor department reported that US jobless claims dropped by 24,000 to 398,000 in the week ended July 23, US National Association of Realtors reported that the pending US home re sales unexpectedly rose 2.4% in June followed an 8.2% May gain.
Chile's Escondida copper mine, which extracts 7% of the world's copper, provided the most support. It declared force majeure on copper concentrate sales on Wednesday after a six day strike hit output.
London Metal Exchange Rates
Cash Buyer
| Product | 21-Jul | 28-Jul | Change | % |
| Zinc | 2409 | 2479 | 70 | 3% |
| Nickel | 23715 | 24365 | 650 | 3% |
| Tin | 27925 | 28725 | 800 | 3% |
| Aluminium | 2473 | 2600 | 127 | 5% |
| Copper | 9606 | 9744 | 138 | 1% |
Change is on July 28th as compared to 21st July 2011
In USD per tonne
1. Zinc
London Metal Exchange Rates
Cash Buyer
| 21-Jul | 25-Jul | 26-Jul | 27-Jul | 28-Jul |
| 2409 | 2426 | 2495 | 2487 | 2479 |
In USD per tonne
| Date | Rate | Period | Change |
| 28-Jul | 2479 | | |
| 21-Jul | 2409 | WoW | 2.91% |
| 28-Jun | 2234 | MoM | 10.97% |
| 28-Apr | 2221 | QoQ | 11.62% |
| 28-Jul'10 | 1850 | YoY | 34.00% |
In USD per tonne
2. Nickel
London Metal Exchange Rates
Cash Buyer
| 21-Jul | 25-Jul | 26-Jul | 27-Jul | 28-Jul |
| 23715 | 23775 | 24150 | 24050 | 24365 |
In USD per tonne
| Date | Rate | Period | Change |
| 28-Jul | 24365 | | |
| 21-Jul | 23715 | WoW | 2.74% |
| 28-Jun | 22485 | MoM | 8.36% |
| 28-Apr | 26605 | QoQ | -8.42% |
| 28-Jul'10 | 20420 | YoY | 19.32% |
In USD per tonne
3. Tin
London Metal Exchange Rates
Cash Buyer
| 21-Jul | 25-Jul | 26-Jul | 27-Jul | 28-Jul |
| 27925 | 28140 | 28300 | 28775 | 28725 |
In USD per tonne
| Date | Rate | Period | Change |
| 28-Jul | 28725 | | |
| 21-Jul | 27925 | WoW | 2.86% |
| 28-Jun | 25245 | MoM | 13.78% |
| 28-Apr | 32250 | QoQ | -10.93% |
| 28-Jul'10 | 19405 | YoY | 48.03% |
In USD per tonne
4. Aluminium
London Metal Exchange Rates
Cash Buyer
| 21-Jul | 25-Jul | 26-Jul | 27-Jul | 28-Jul |
| 2473 | 2572 | 2612 | 2622 | 2600 |
In USD per tonne
| Date | Rate | Period | Change |
| 28-Jul | 2600 | | |
| 21-Jul | 2473 | WoW | 5.14% |
| 28-Jun | 2480 | MoM | 4.86% |
| 28-Apr | 2772 | QoQ | -6.19% |
| 28-Jul'10 | 2059 | YoY | 26.31% |
In USD per tonne
5. Copper
London Metal Exchange Rates
Cash Buyer
| 21-Jul | 25-Jul | 26-Jul | 27-Jul | 28-Jul |
| 9606 | 9615 | 9777 | 9735 | 9744 |
In USD per tonne
| Date | Rate | Period | Change |
| 28-Jul | 9744 | | |
| 21-Jul | 9606 | WoW | 1.43% |
| 28-Jun | 8995 | MoM | 8.32% |
| 28-Apr | 9370 | QoQ | 3.99% |
| 28-Jul'10 | 7119 | YoY | 36.87% |
In USD per tonne
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