Despite ominous clouds on horizon, base metals performed well at LME last week posting gains.
US employment growth ground to a halt in August as sagging consumer confidence discouraged already skittish US businesses from hiring, keeping pressure on the Federal Reserve to provide more monetary stimulus to aid the economy.
With an increasingly uncertain US economic outlook, added to sovereign debt issues in Europe, copper base metal were sidelined with little incentive to buy.
It also raises the chance the US Federal Reserve may embrace further easing measures, but this is expected to give only a brief lift to metals prices, if at all.
London Metal Exchange Rates
Cash Buyer
| Product | 25-Aug | 01-Sep | Change | % |
| Zinc | 2181 | 2208 | 27 | 1% |
| Nickel | 21030 | 21770 | 740 | 4% |
| Tin | 23375 | 23975 | 600 | 3% |
| Aluminium | 2333 | 2401 | 68 | 3% |
| Copper | 8907 | 9101 | 194 | 2% |
Change is on Sep 1st as compared to 25th Aug 2011
In USD per tonne
1. Zinc
London Metal Exchange Rates
Cash Buyer
| 25-Aug | 29-Aug | 30-Aug | 31-Aug | 01-Sep |
| 2181 | 2210 | 2258 | 2258 | 2208 |
In USD per tonne
| Date | Rate | Period | Change |
| 01-Sep | 2208 | | |
| 25-Aug | 2181 | WoW | 1.22% |
| 01-Aug | 2478 | MoM | -10.92% |
| 01-Jun | 2226 | QoQ | -0.81% |
| 01-Sep'10 | 2089 | YoY | 5.70% |
In USD per tonne
2. Nickel
London Metal Exchange Rates
Cash Buyer
| 25-Aug | 29-Aug | 30-Aug | 31-Aug | 01-Sep |
| 21030 | 21250 | 21800 | 22045 | 21770 |
In USD per tonne
| Date | Rate | Period | Change |
| 01-Sep | 21770 | | |
| 25-Aug | 21030 | WoW | 3.52% |
| 01-Aug | 25060 | MoM | -13.13% |
| 01-Jun | 23330 | QoQ | -6.69% |
| 01-Sep'10 | 21040 | YoY | 3.47% |
In USD per tonne
3. Tin
London Metal Exchange Rates
Cash Buyer
| 25-Aug | 29-Aug | 30-Aug | 31-Aug | 01-Sep |
| 23375 | 23700 | 24050 | 24150 | 23975 |
In USD per tonne
| Date | Rate | Period | Change |
| 01-Sep | 23975 | | |
| 25-Aug | 23375 | WoW | 2.57% |
| 01-Aug | 28555 | MoM | -16.04% |
| 01-Jun | 27845 | QoQ | -13.90% |
| 01-Sep'10 | 21425 | YoY | 11.90% |
In USD per tonne
4. Aluminium
London Metal Exchange Rates
Cash Buyer
| 25-Aug | 29-Aug | 30-Aug | 31-Aug | 01-Sep |
| 2333 | 2329 | 2360 | 2402 | 2401 |
In USD per tonne
| Date | Rate | Period | Change |
| 01-Sep | 2401 | | |
| 25-Aug | 2333 | WoW | 2.89% |
| 01-Aug | 2605 | MoM | -7.85% |
| 01-Jun | 2653 | QoQ | -9.50% |
| 01-Sep'10 | 2059 | YoY | 16.61% |
In USD per tonne
5. Copper
London Metal Exchange Rates
Cash Buyer
| 25-Aug | 29-Aug | 30-Aug | 31-Aug | 01-Sep |
| 8907 | 9090 | 9126 | 9196 | 9101 |
In USD per tonne
| Date | Rate | Period | Change |
| 01-Sep | 9101 | | |
| 25-Aug | 8907 | WoW | 2.17% |
| 01-Aug | 9827 | MoM | -7.39% |
| 01-Jun | 9170 | QoQ | -0.76% |
| 01-Sep'10 | 7540 | YoY | 20.70% |
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
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2. Send mail to admin@steelprices-india.com.
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(Sourced from www.steelprices-india.com)
