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Base metals prices quiet in LME officials ahead of US payrolls data

February 03, 2012 - 14:49 GMT Location: London

KEYWORDS: LME , official session , copper , aluminium , nickel

Base metals prices were subdued ahead of the latest non-farm payroll data from the USA in official trading on the London Metal Exchange on Friday February 3, as the market awaited direction after a week of uncertainty.

“It has been an extremely quiet morning – nothing was happening as people waited for the numbers,” a category I trader said. The non-farm payrolls data subsequently surprised to the upside when it was released following the officials, showing an increase of 243,000 jobs against expectations of around 140,000, and an unemployment rate of 8.3% against expectations of around 8.5%. “The knee-jerk reaction...

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Comment & analysis

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