CIJENE OBOJENIH METALA NA BURZI U LONDONU

LONDONSKA BURZA KOVINA: SLUŽBENE CIJENE 18.06.1997. LME OFFICIAL PRICES - JUN 18 CASH 3 MTHS 15 MTHS 27 MTHS SETT COPPER 2692.5/93.5 2586.0/87.0 2215.0/25.0 2095.0/05.0 2693.5 (STG EQV) 1643.38 1581.98 TIN 5526/5527 5575/5580 5715/5725 5527 LEAD 611.00/2.00 623.00/4.00 645.00/0.00 612 (STG EQV) 373.4 381.58 ZINC 1347.0/48.0 1369.0/69.5 1308.0/13.0 1255.0/60.0 1348 ALU.HG 1571.0/72.0 1595.0/96.0 1633.0/38.0 1643.0/48.0 1572 NICKEL 7135/7140 7245/7250 7520/7540 7745/7765 7140 ALALLOY 1448.0/52.0 1473.0/75.0 1525.0/45.0 1452 SETTLEMENT RATES - GBP 1.639 DEM 1.7263 JPY 113.13 Copper chases to $2,600 by LME midsession recess LONDON, June 18 (Reuter) - Speculative and trade buying after a flaring in nearby spreads helped to restore upside confidence in copper, which was attacking resistance at $2,600 a tonne by the London Metal Exchange (LME) morning close. Last three months business was at this level, up $18 from Tuesday's LME kerb close. "It was an encouraging bounce which had a lot to do with finding stiff support on the downside yesterday," one trader said. On Tuesday prices snapped away from levels towards $2,570 and traders are now looking for a period of consolidation around $2,600 given that the market continues to send out oversold signals. "We may see a further upside push but yesterday's high near $2,610 should offer resistance," the trader added. Borrowing of nearby spreads saw copper's cash to three months backwardation widen to around $105, versus $90 on Tuesday. A small stocks rise of 300 tonnes had little impact. Aluminium chased towards resistance at $1,600 following the rise in copper and a constructive chart close on Tuesday. Traders said they expected next resistance at Tuesday's high of $1,608. A stocks fall of 3,100 tonnes was supportive, as was earlier light consumer forward interest. The last time LME aluminium stocks registered a rise was on May 20, when they came in 2,000 tonnes up. Traders said the daily falls were becoming routine and expected, athough one aired caution saying that "nothing falls for ever." Opinions on the stock declines vary. Several traders suggested that the stocks were been used by end-users, while others said the material was tied up in financing deals. Physical traders estimated that between 200,000 and 250,000 tonnes could be involved in the deals. Another theory was that the stock was been moved into consumer yards in an effort to cut costs. Nickel, despite a stocks rise, moved with copper to close the morning at $7,240, up $30. But with charts trending down, traders expected prices to come under downside pressure in the near term. Zinc jumped $9 to $1,377 on trade buying and short covering, while lead gained $2 to $624. Tin was subdued throughout the morning and was last at $5,570, unchanged. Alloy was quoted at $1,473/75, versus $1,465. 181533 MET jun 97