CLOSE TO CLOSE: Dollar strength sees prices fall in LME kerb

Base metals fell back in kerb trading on the London Metal Exchange on Thursday August 30, as dollar strength countered early gains after positive comments from Chinese premier Wen Jiabao.

Wen Jiabao said a meeting with German chancellor Angela Merkel had increased his confidence in the eurozone, but also warned that the implementation of recovery measures “won’t be completely smooth”.
“Sure the meeting helped – Merkel can be quite good at impressing people – but really the market is playing a waiting game,” a category I broker told Metal Bulletin.

Three-month copper reached a high of $7,670 per tonne after the remarks, having closed...


Jethro Wookey

August 30, 2012

17:45 GMT