CIJENE OBOJENIH METALA NA BURZI U LONDONU

LONDONSKA BURZA KOVINA: SLUŽBENE CIJENE 17.06.1997. LME OFFICIAL PRICES - JUN 17 CASH 3 MTHS 15 MTHS 27 MTHS SETT COPPER 2670.0/71.0 2583.0/85.0 2215.0/25.0 2095.0/05.0 2671 (STG EQV) 1630.05 1580.99 TIN 5489/5490 5530/5540 5675/5685 5490 LEAD 601.00/2.00 615.00/5.50 630.00/5.00 602 (STG EQV) 367.39 376.44 ZINC 1345.0/46.0 1366.0/67.0 1310.0/15.0 1253.0/58.0 1346 ALU.HG 1554.0/54.5 1579.0/79.5 1618.0/23.0 1628.0/33.0 1554.5 NICKEL 7010/7020 7121/7122 7385/7405 7615/7635 7020 ALALLOY 1450.0/51.0 1471.0/73.0 1520.0/40.0 1451 SETTLEMENT RATES - GBP 1.6386 DEM 1.7352 JPY 113.66 LME spirals down with copper, lead at 20-month low LONDON, June 17 (Reuter) - Slack summer conditions and unexciting stocks data meant base metals business was slow for most of Tuesday morning, both during the pre-market and in the LME rings, traders said. Once early gains had been reversed in the copper market, price declines were established as the day's trend, with lead pulled down to a 20-month low and tin dragged back to near its recent one-year nadir. Other metals in the complex were also undermined. "It has not been that busy, but a predictable failure at $2,600 (in copper) put the cat among the pigeons," one trader said. Others said copper's losses resulted in followthrough liquidation in lead, which triggered the eventual sell-stops around the recent double-bottom of $615 a tonne. "Lead does not have a lot going for it. There is not too much physical business," one noted. Lead prices hovered hesitantly above $610, a break of which might have ushered in a test of $600, before trade buying kicked in. The market closed the kerb at $614, a $7 loss from Monday afternoon, and is likely to continue following copper. Copper steadily lost ground after an uninspiring 1,550-tonne drop in stocks failed to send the market up to test last week's one-year high of $2,609. Traders said the market was overbought, with momentum indicators at high levels, although the mostly speculative sales were fairly low key. "The ring was very slow. I think there were 50 lots of three months and maybe 100 lots of cash," one copper trader said. Spreads also softened, with cash/threes showing a backwardation of $85/90, against levels near $100 on Monday. Last three months trade was at $2,577, a $11 loss from the previous kerb. Nickel was sent spinning lower through successive chart support levels by merchant selling and sell-stops in whippy conditions. The market flipped up off its lows, but remained $90 easier at $7,160. Aluminium initially pushed higher, bolstered by a 4,350-tonne stock decline, but with charts bearish and copper weakening, it soon returned to the downside. Commission house sales emerged around $1,580, and by the end of the kerb the $1,570/75 level was being eroded. Last morning business was at $1,573, down $9, and further lossses towards $1,540 are on the cards, technical traders said. Tin was pressured by Far Eastern sales, which at one stage brought the recent $5,510 one-year low into the market's sights. Some bargain-hunting buying was seen around the lows, however, and final trade was just $20 easier at $5,540. Zinc's movements were on a par with the rest of the market, and early steadiness was soon reversed. Last kerb trade was at $1,363, a $10 loss. The alloy market was mostly neglected, but traded at $1,470, down around $3 from Monday. London Metal Exchange Warehouse Stocks - Jun 17 VOLUME IN TONNES COPPER 122225 DOWN 1550 TIN 11805 DOWN 20 LEAD 116875 UP 200 ZINC 425825 UP 25 ALUMINIUM 698650 DOWN 4350 NICKEL 51108 UP 60 AL.ALLOY 60500 DOWN 160 STOCK IN OUT COPPER wire bars 75 0 0 COPPER cathodes 122150 50 1600 TIN 11805 140 160 LEAD 116875 250 50 ZINC 425825 725 700 NICKEL briquettes 7572 0 18 NICKEL cathodes 43500 174 96 NICKEL pellets 36 0 0 STOCK IN OUT ALUMINIUM ingots 307325 0 3275 ALUMINIUM T-bars 236025 0 1000 ALUMINIUM sows 155300 0 75 AL.ALLOY D12S/JIS 400 0 0 AL.ALLOY 226/DIN 33480 0 140 AL.ALLOY A380.1 26620 0 20 181051 MET jun 97