Copying and distributing are prohibited without permission of the publisher
Base metals prices fall in LME officials on fiscal disappointment
June 21, 2012 - 15:35 GMT
Base metals prices faltered in Thursday’s official trading on the London Metal Exchange following disappointing economic news from China and Europe and after the US Federal Open Market Committee (FOMC) ruled out immediate quantitive easing (QE).
Three-month copper settled at $7,429/730 per tonne, compared
with an opening price of $7,485 per tonne. The red metal traded
to an intraday high of $7,487.5 per tonne and dipped as low as
$7,362.25 per tonne. "Last night’s FOMC statement
disappointed a market that had been hoping for further QE
measures, while a weak Flash Chinese manufacturing PMI and weak
European PMI numbers have also weighed on sentiment this
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 a premium subscription and benefit from news and pricing data going back to 1997 plus access to our online database - MB Company Data.
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.