CIJENE OBOJENIH METALA NA BURZI U LONDONU

LONDONSKA BURZA KOVINA: SLUŽBENE CIJENE 22.04.1997. LME OFFICIAL PRICES - APR 22 CASH 3 MTHS 15 MTHS 27 MTHS SETT COPPER 2393.0/94.0 2303.0/04.0 2085.0/95.0 2030.0/40.0 2394 (STG EQV) 1463.24 1410.12 TIN 5725/5730 5765/5770 5830/5840 5730 LEAD 632.00/3.00 638.00/9.00 670.00/5.00 633 (STG EQV) 386.9 391.09 ZINC 1233.0/33.5 1256.0/57.0 1235.0/40.0 1193.0/98.0 1233.5 ALU.HG 1546.0/46.5 1580.0/80.5 1623.0/28.0 1618.0/23.0 1546.5 NICKEL 7288/7290 7365/7375 7620/7640 7800/7820 7290 ALALLOY 1431.0/33.0 1461.0/63.0 1540.0/60.0 1433 SETTLEMENT RATES - GBP 1.6361 DEM 1.7079 JPY 126.17 LME copper backwardation flares, boosts prices LONDON, April 22 (Reuter) - Copper's nearby backwardation flared to around $80 a tonne on Tuesday compared to $35 a week ago, as tightness in April and May dates emerged. A U.S. investment bank was said to hold the major long, while an influentual speculator was one of the shorts, some dealers suggested. "The squeeze on the nearby spreads is putting upside pressure on copper," a trader said. Tightness in the cash to three months delivery spread was most apparent from late April dates through to mid-May, he added. The tightness came against a background of consistent LME stock drawdowns which were helping to underpin prices. LME copper stocks declined by 1,875 tonnes on Tuesday to a total of 150,125 tonnes. This compared with a 1997 high of around 220,000 tonnes. An ongoing strike at Chile's Escondida mine, launched by a minority of workers last Friday, was also helping to exacerbate tightness even though mine officials said output was not being affected. Analysts suggested the convergence of factors contributed to shorts being caught out and having to cover. "It's probably not Escondida on its own that has caused prices and backwardation to rise. But it has heightened awareness of a continual drawdowns of stocks we have been seeing. It all mounts up," said analyst Martin Squires of Rudolf Wolff. In the same vein, the Kennecott Utah copper smelter is due to shut down for six weeks for repairs. Three months copper prices were firmer and flirting with the $2,300 resistance level after moving sideways in a lower range in recent days. The other metals were also generally stronger across the board on the back of copper. German Metals - APR 22 Copper Basis LME Settlement High Grade Prices in Deutschemarks per 100 Kg Bid/Ask Copper Electrol. 414.31/425.95 LEad Cables 99.94 123.25/124.25 221539 MET apr 97