Base metal at LME and SHFE extended losses last week after investors worldwide scrambled to get out of risk assets on fears of a spreading debt crisis and slowing growth.
While Europe is struggling to contain its debt crisis and investors become more doubtful that the US economy will recover this year. The signs of slow down in China are also alarming the investors.
Weaker manufacturing, service sector growth and a lack of significant improvement in the job market have led investors to become more pessimistic about prospects for an upturn in the US.
Meanwhile European leaders are scrambling to reassure markets that Italy, the No 3 economy in the region, won't come close to the brink of financial disaster like Greece and Ireland did. Many economists think Europe's current financial bailout mechanism wouldn't be big enough to backstop a large economy like Italy's. Italy pledged Friday to support a constitutional amendment requiring the government to balance its budget.
London Metal Exchange Rates
Cash Buyer
| Product | 28-Jul | 04-Aug | Change | % |
| Zinc | 2479 | 2336 | -143 | -6% |
| Nickel | 24365 | 23575 | -790 | -3% |
| Tin | 28725 | 25825 | -2900 | -10% |
| Aluminium | 2600 | 2472 | -128 | -5% |
| Copper | 9744 | 9452 | -292 | -3% |
Change is on Aug 4th as compared to 28th July 2011
In USD per tonne
1. Zinc
London Metal Exchange Rates
Cash Buyer
| 28-Jul | 01-Aug | 02-Aug | 03-Aug | 04-Aug |
| 2479 | 2478 | 2407 | 2362 | 2336 |
In USD per tonne
| Date | Rate | Period | Change |
| 04-Aug | 2336 | | |
| 28-Jul | 2479 | WoW | -5.77% |
| 04-Jul | 2342 | MoM | -0.26% |
| 04-May | 2212 | QoQ | 5.61% |
| 04-Aug'10 | 2073 | YoY | 12.69% |
In USD per tonne
2. Nickel
London Metal Exchange Rates
Cash Buyer
| 28-Jul | 01-Aug | 02-Aug | 03-Aug | 04-Aug |
| 24365 | 25060 | 24510 | 23875 | 23575 |
In USD per tonne
| Date | Rate | Period | Change |
| 04-Aug | 23575 | | |
| 28-Jul | 24365 | WoW | -3.24% |
| 04-Jul | 23075 | MoM | 2.17% |
| 04-May | 26770 | QoQ | -11.94% |
| 04-Aug'10 | 21515 | YoY | 9.57% |
In USD per tonne
3. Tin
London Metal Exchange Rates
Cash Buyer
| 28-Jul | 01-Aug | 02-Aug | 03-Aug | 04-Aug |
| 28725 | 28555 | 27790 | 26700 | 25825 |
In USD per tonne
| Date | Rate | Period | Change |
| 04-Aug | 25825 | | |
| 28-Jul | 28725 | WoW | -10.10% |
| 04-Jul | 25635 | MoM | 0.74% |
| 04-May | 31150 | QoQ | -17.09% |
| 04-Aug'10 | 19850 | YoY | 30.10% |
In USD per tonne
4. Aluminium
London Metal Exchange Rates
Cash Buyer
| 28-Jul | 01-Aug | 02-Aug | 03-Aug | 04-Aug |
| 2600 | 2605 | 2540 | 2529 | 2472 |
In USD per tonne
| Date | Rate | Period | Change |
| 04-Aug | 2472 | | |
| 28-Jul | 2600 | WoW | -4.92% |
| 04-Jul | 2460 | MoM | 0.49% |
| 04-May | 2753 | QoQ | -10.21% |
| 04-Aug'10 | 2201 | YoY | 12.34% |
In USD per tonne
5. Copper
London Metal Exchange Rates
Cash Buyer
| 28-Jul | 01-Aug | 02-Aug | 03-Aug | 04-Aug |
| 9744 | 9827 | 9625 | 9549 | 9452 |
In USD per tonne
| Date | Rate | Period | Change |
| 04-Aug | 9452 | | |
| 28-Jul | 9744 | WoW | -3.00% |
| 04-Jul | 9410 | MoM | 0.44% |
| 04-May | 9171 | QoQ | 3.06% |
| 04-Aug'10 | 7370 | YoY | 28.24% |
In USD per tonne
www.steelprices-india.com is a comprehensive portal that provides domestic pricing information for benchmark steel products in each category at select location in India on a regular basis 5 days a week and international price levels on a weekly basis.
As steel in each category comes in hundreds of grades shapes and sizes, we have taken benchmark products in each category at select locations to cover the entire basket of garden variety of steel products including input material for steel making and processing.
Products covered
1. Input materials - Iron ore, scrap, sponge iron, pig iron pencil ingot, billets and blooms
2. Long products - Rebar, wire rod, angle, channel and joists
3. Flat products - Narrow plates, wide plates, HR, CR and galvanized
4. Others - Pipes
How to subscribe
1. Register at www.steelprices-india.com and pay on line or ask for invoice
2. Send mail to admin@steelprices-india.com.
3. Call at 0091-124-3007891/2/3
(Sourced from www.steelprices-india.com)
