LONDONSKA BURZA KOVINA: SLUŽBENE CIJENE 28.05.1997.
LME OFFICIAL PRICES - MAY 28
CASH 3 MTHS 15 MTHS 27 MTHS SETT
COPPER 2579.0/80.0 2511.0/12.0 2175.0/85.0 2075.0/85.0 2580
(STG EQV) 1578.46 1539.88
TIN 5655/5665 5705/5710 5820/5830 5665
LEAD 625.50/6.50 634.00/5.00 657.00/2.00 626.5
(STG EQV) 383.3 389.26
ZINC 1338.0/39.0 1359.0/60.0 1295.0/00.0 1250.0/55.0 1339
ALU.HG 1619.0/20.0 1631.0/31.5 1650.0/55.0 1643.0/48.0 1620
NICKEL 7220/7221 7330/7335 7565/7585 7730/7750 7221
ALALLOY 1471.0/72.0 1495.0/96.0 1535.0/55.0 1472
SETTLEMENT RATES - GBP 1.6345 DEM 1.701 JPY 115.85
LME copper holds above $2,500, nickel rebound fail
LONDON, May 28 (Reuter) - LME copper floated at higher
levels on Wednesday morning, just under recent highs, but a
bounce by nickel failed by the midday break.
Three months copper surged to $2,524 in pre-market business
on speculative buying and managed to hold at firmer levels
during ring trading despite sometimes middling turnover.
Support around $2,500 was holding, increasing chances that a
base could be built at these higher levels to support more stabs
at $2,530 resistance, the one-year high achieved last week,
analysts said.
"The banks have got it. Every time it dips towards $2,500,
they jump in and pull it back up," a trader said, referring to
large U.S. investment banks said to be behind the buying. A
breach of $2,530 would target a $2,550 uptrend, chartists said.
The overbought situation has unwound a bit, but the 14-day
RSI at 73.3 is still above the key 70 level, they added.
The premium of cash over three months metal firmed slightly
on the pre-market but was offered down in ring trading and ended
the kerb slightly easier at at $67/$68.
Fundamentally, the market was tight but traders awaited word
of a start-up at Kennecott's U.S. smelter, due to resume soon
after maintenance work and could help ease supply bottlenecks.
In Chile, supervisors at the Chuquicamata mine voted late on
Tuesday not to strike, but this had been expected.
Aluminium was neglected, frozen for most of the morning near
its previous close after an abortive attack at the upside on
Tuesday, and ended the kerb $5 lower at $1,631.
After Tuesday's weak close, either consolidation or another
foray to the downside was on the cards, analysts said. Support
should be seen at the convergence of the 30-day and 100-day
moving averages at $1,623/25, with the next floor at the $1,610
low recorded on Friday.
Nickel probed lower on the pre-market down to $7,270 after
diving by $169 on Tuesday, but staged a minor recovery up to
$7,370.
In kerb trading, the bounce ran out of steam and it finished
the morning nearly where it closed on Tuesday. Last business was
at $7,305, up $4.
It was vulnerable to further technical weakness after slicing
layers of support, including an uptrend at $7,400, on Tuesday.
Offering support, however, were stalled labour talks at
Inco's big Sudbury operation in Canada ahead of a May 31
contract expiry.
Traders heard talk that the two sides were near a deal, but
they may not be able to work out all details before the strike
deadline.
"I would not want to be short at the moment," one said. Also,
news emerged of a strike at Rustenburg which produces nickel.
But in a sign of more supply, Russia's export of nickel to
countries outside the CIS jumped 48 percent to 50,300 tonnes
during the first quarter of this year, statistics showed.
Tin slipped to $5,680, a loss of $50, but lead and zinc
barely moved.Lead added $1 to $635 and zinc finished the morning
unchanged at $1,360. Alloy was quiet but was marked $5 higher to
$1,495/$1500.
FRANCUSKA BURZA - 27. svibnja 1997. - burza nije radila
BAKAR FFR/100 KG 1546
KOSITAR FFR/100 KG 3855
CINK EL. FFR/100 KG 838
ALUMINIJ FFR/100 KG 1260
SREB. C3E FFR/KG 830/977
PLATINA FFR/KG 63300/93800
PALADIJ FFR/KG 28900/37300
IRIDIJ FFR/KG 22700/45200
KOBALT FFR/100 KG 35946
ŽIVA FFR/100 KG 5200
NJEMAČKA BURZA - 14. svibnja 1997. - u DEM po 100 kg
GERMAN ELEKTROLITIK 426.31/437.94
OLOVO U KABELIMA 99.94% 118.25/119.25
281556 MET may 97
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