Base metals exhibited positive sign on LME last week as investor regained confidence over the financial outlook over Eurozone debt deal. Copper posted biggest recovery followed by nickel
Euro zone leaders struck a deal on Thursday to contain the region's economic crisis but are now under pressure to finalise the details of their plan to slash Greece's debt burden and strengthen their rescue fund.
Mr Warren Hogan chief economist at the Australia and New Zealand Banking Group in Melbourne said that “The market will now be able to stop fascinating about the problems in Europe, the risks posed by Europe, and look at the underlying fundamentals which aren't as bad as market prices suggested in recent times."
Investors are betting on a recovery in demand for industrial metals and energy after the US economy expanded at its fastest pace in a year in the third quarter. Gross domestic product in the world's largest economy grew at a 2.5% annual rate, up from 1.3% in the prior three months.
London Metal Exchange Rates
Cash Buyer
| Product | 20-Oct | 27-Oct | Change | % |
| Zinc | 1832 | 1880 | 49 | 3% |
| Nickel | 18930 | 19750 | 820 | 4% |
| Tin | 21550 | 21845 | 295 | 1% |
| Aluminium | 2171 | 2234 | 63 | 3% |
| Copper | 7305 | 8039 | 734 | 10% |
Change is on Oct 27th as compared to 20th Oct 2011
In USD per tonne
1. Zinc
London Metal Exchange Rates
Cash Buyer
| 20-Oct | 24-Oct | 25-Oct | 26-Oct | 27-Oct |
| 1832 | 1840 | 1835 | 1842 | 1880 |
In USD per tonne
| Date | Rate | Period | Change |
| 27-Oct | 1880 | | |
| 20-Oct | 1832 | WoW | 2.65% |
| 27-Sep | 1905 | MoM | -1.31% |
| 27-Jul | 2487 | QoQ | -24.39% |
| 27-Oct'10 | 2515 | YoY | -25.25% |
In USD per tonne
2. Nickel
London Metal Exchange Rates
Cash Buyer
| 20-Oct | 24-Oct | 25-Oct | 26-Oct | 27-Oct |
| 18930 | 19030 | 19820 | 19630 | 19750 |
In USD per tonne
| Date | Rate | Period | Change |
| 27-Oct | 19750 | | |
| 20-Oct | 18930 | WoW | 4.33% |
| 27-Sep | 18665 | MoM | 5.81% |
| 27-Jul | 24050 | QoQ | -17.88% |
| 27-Oct'10 | 22945 | YoY | -13.92% |
In USD per tonne
3. Tin
London Metal Exchange Rates
Cash Buyer
| 20-Oct | 24-Oct | 25-Oct | 26-Oct | 27-Oct |
| 21550 | 21800 | 22285 | 21805 | 21845 |
In USD per tonne
| Date | Rate | Period | Change |
| 27-Oct | 21845 | | |
| 20-Oct | 21550 | WoW | 1.37% |
| 27-Sep | 21500 | MoM | 1.60% |
| 27-Jul | 28775 | QoQ | -24.08% |
| 27-Oct'10 | 26335 | YoY | -17.05% |
In USD per tonne
4. Aluminium
London Metal Exchange Rates
Cash Buyer
| 20-Oct | 24-Oct | 25-Oct | 26-Oct | 27-Oct |
| 2171 | 2158 | 2195 | 2194 | 2234 |
In USD per tonne
| Date | Rate | Period | Change |
| 27-Oct | 2234 | | |
| 20-Oct | 2171 | WoW | 2.88% |
| 27-Sep | 2193 | MoM | 1.85% |
| 27-Jul | 2622 | QoQ | -14.82% |
| 27-Oct'10 | 2321 | YoY | -3.77% |
In USD per tonne
5. Copper
London Metal Exchange Rates
Cash Buyer
| 20-Oct | 24-Oct | 25-Oct | 26-Oct | 27-Oct |
| 7305 | 7380 | 7591 | 7720 | 8039 |
In USD per tonne
| Date | Rate | Period | Change |
| 27-Oct | 8039 | | |
| 20-Oct | 7305 | WoW | 10.05% |
| 27-Sep | 7527 | MoM | 6.80% |
| 27-Jul | 9735 | QoQ | -17.42% |
| 27-Oct'10 | 8331 | YoY | -3.50% |
In USD per tonne
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