npavan78
06-01-2009, 08:43 AM
Copper slipped almost 4% on Monday before paring losses, as a dollar rally weighed on most industrial metals. Profit-taking also pushed
nickel, tin and lead lower. The weak outlook for base metals also added pressure.
Copper for three-month delivery on the London Metal Exchange fell to a session low of $3,115 a tonne but pared losses to trade at $3,225 at 21:30 pm IST from $3,231 at the close on Friday. Nickel fell to a low of $12,350 from $13,200 a tonne on Friday and was last seen at $12,690.
Lead fell to $1,060 from $1,090 a tonne. The metal had rallied 29% since December 28. Tin declined to $11,000 from $11,625 a tonne. Aluminium fell to a low of $1,535 from $1,570. However, zinc rose to $1,312 a tonne.
nickel, tin and lead lower. The weak outlook for base metals also added pressure.
Copper for three-month delivery on the London Metal Exchange fell to a session low of $3,115 a tonne but pared losses to trade at $3,225 at 21:30 pm IST from $3,231 at the close on Friday. Nickel fell to a low of $12,350 from $13,200 a tonne on Friday and was last seen at $12,690.
Lead fell to $1,060 from $1,090 a tonne. The metal had rallied 29% since December 28. Tin declined to $11,000 from $11,625 a tonne. Aluminium fell to a low of $1,535 from $1,570. However, zinc rose to $1,312 a tonne.