LME OFFICIALS: Base metals prices consolidate earlier gains in officials

Base metals consolidated the previous day’s gains in official trading on the London Metal Exchange on Friday May 31, with all metals settling near their opening prices, with the exception of copper, which dipped back below $7,300.

“Metals had a terrific day yesterday, with all bar nickel up on very good volume,” a broker said in a note. “Except for nickel, the complex is now trading above the 34-day moving average, which should be key in sucking in new money.”
Three-month copper settled at $7,270/270.5 per tonne, after opening the day at $7,318

The red metal reached a high...


Jethro Wookey

May 31, 2013

13:45 GMT