Friday Report: August 8, 2008
London, August 2008—The metals put in another choppy day's trading yesterday with prices giving back earlier gains as the dollar climbed to 5 month highs and as oil drifted. Generally there is little fresh news to drive the markets so they are being jostled by outside factors, mainly the dollar and oil. (Compliments of BaseMetals.com)
|
| Monday Report: August 4, 2008
London, August 2008—The metals ended the week on a weak note, with copper down at $7,900, having had a range last week of $7,835 to $8,160. Lead was the strongest performer with prices pushing up to $2,293 before easing, zinc had a go at rallying but ran out of steam, while the rest extended recent lows, even though they managed to close off the lows by the close on Friday. Going forward with LME stocks tending to be up and with the summer slowdown in full swing, it may be hard for the metals not to drift further. (Compliments of BaseMetals.com)
|
| Friday Report: August 1, 2008
London, August 2008—The metals continued to struggle with copper and zinc both finding it difficult to hold on to windfall gains. However, poor economic data reminded the market of the weak underlying demand side fundamentals that might be signalling the end of the commodity boom. However the poor economic data sent the dollar lower, which initially masked the impact the data had on overall metal sentiment. (Compliments of BaseMetals.com)
|
| Monday Report: July 28, 2008
This morning's LME said to be the feeling the effects of a some seasonal slowness confirmed by low turnover...zinc and nickel were lower while lead was leading the upside early...copper a bit firmer along with a weaker dollar...traders look for Comex copper to open a bit lower this a.m.
|
|
Archive
|
|
As is all material on isri.org and scrap.org, ISRI's
primary websites, this content is ©
Institute of Scrap Recycling Industries, Inc. ISRI
reserves all rights over copyrighted content.
Please contact
ISRI to negotiate permission to use content
from our websites.
Top
|
|
|
|
