Copying and distributing are prohibited without permission of the publisher
Base metals prices soft in LME pre-market on Chinese, Greek news
March 08, 2012 - 09:55 GMT
base metals prices
Base metals prices remained relatively weak as trading opened on the London Metal Exchange on Thursday March 8, as the market continues to digest news of slowing Chinese GDP growth, and traders shy away from taking positions on continued Greek woes.
Aluminium prices slipped about $20 compared with Wednesday's
opening level, to $2,215 per tonne, basis three months, and
were trading in a range of just $17 during the morning. "I
think everyone's looking to the debt swap. Every time I look at
the news, it seems to be going terribly," a category I trader
told Metal Bulletin. The trend of headline trading is likely to
continue, he added, as non-farm payroll data is expected from
the US in the coming days. "The non-farm data might be quite
interesting - we'll see whether we still have employment
All material subject to strictly enforced copyright laws. ©
Euromoney Institutional Investor PLC.
Please log in using your online subscriber details.
Your username will be your registered email address with Metal Bulletin.
If you aren't a subscriber yet, feel free to take a seven day free trial, or subscribe using the instructions below.
A standard subscription include one year's worth of news and prices. You can also upgrade to the full archive and benefit from more than 15 years of intelligence. Start your subscription today.
Taking a free trial will give you open access to Metal Bulletin online news, prices, archived content and email alert service for the next seven days. Start your free trial today.