CIJENE OBOJENIH METALA NA BURZI U LONDONU

LONDONSKA BURZA KOVINA: SLUŽBENE CIJENE 26.02.1997. CASH 3 MTHS 15 MTHS 27 MTHS SETT COPPER 2421.0/22.0 2357.0/58.0 2105.0/15.0 2040.0/50.0 2422 (STG EQV) 1479.81 1443.15 TIN 5760/5765 5815/5820 5895/5905 5765 LEAD 650.00/1.00 658.00/9.00 657.00/2.00 651 (STG EQV) 397.75 403.32 ZINC 1168.5/69.0 1189.0/90.0 1187.0/92.0 1168.0/73.0 1169 ALU.HG 1616.5/17.0 1646.0/47.0 1640.0/45.0 1608.0/13.0 1617 NICKEL 7795/7796 7885/7890 8065/8085 8220/8240 7796 ALALLOY 1523.0/28.0 1545.0/46.0 1595.0/15.0 1528 SETTLEMENT RATES - GBP 1.6367 DEM 1.6745 JPY 121.09 LME nickel reverses on Russian strike threat LONDON, Feb 26 (Reuter) - LME nickel showed its volatile nature on Wednesday morning, catching a market off balance by first piling on fresh losses then somersaulting on fresh fears of Russian supply disruptions. Most analysts and traders were prepared for a weak tone after three month prices corrected lower on Tuesday from nine-month highs of $8,120, a gain of 26 percent since the beginning of the year. Prices slid to a low of $7,760 on the pre-market but bottomed out when workers at Norilsk Nickel said they were unhappy with a management proposal for paying wage arrears and may go on strike on March 15. "We all sold it when it broke below the 10-day moving average (at $7,859), then the Norilsk news came out," said one clearly frustrated floor trader. As shorts scrambled to cover, the market steamed higher, despite later news that a Norilsk spokesman played down the strike talk, saying the two sides were still working to resolve the dispute. Prices ended the kerb $110 higher at $7,960. Stiff resistance would be seen at $8,000, where the market made a false break out. If prices look lower again, a downtrend line is at $7,790 and further support at $7,740/60, analysts said. Other metals also all came off their lows. Copper rebounded after hitting a low of $2,335 on the pre-market against a background of looming tightness in April and players reluctant to go short with a backwardation still holding. It finished the morning $14 higher at $2,364 per tonne. Spreads were well bid and the cash/threes widened slightly to be last indicated at $63/69. On the upside prices must attack layers of resistance from $2,375 to the recent high of $2,385, to resume an uptrend. Any further weakness should find support at the previous breakout point of $2,313, chartists said. Aluminium also recovered from a low of $1,639, ending the kerb $9 higher a $1,652. The cash/average 1998 spread was at a $6/10 backwardation, little changed from Tuesday's close. During Tuesday's midsession, it flared to a $22/23 backwardation. Zinc bounced off support at $1,190 after sliding under the 10-day moving average of $1,213 on Tuesday and came within spitting distance of $1,200, ending with a pared loss of $10 at $,198. Tin lifted itself off lows of $5,810, ending with a $50 loss at $5,860. Support was pegged at $5,750/$5,800. Lead finished $4 softer at $660 after holding to a tight $3 range. Alloy was also in the background, closing slightly firmer at $1,545/6 versus $1,540. 261538 MET feb 97