LONDONSKA BURZA METALA: SLUŽBENE CIJENE 06.02.1997.
LME OFFICIAL PRICES - FEB 06
CASH 3 MTHS 15 MTHS 27 MTHS SETT
COPPER 2464.0/66.0 2255.0/56.0 2065.0/75.0 2005.0/15.0 2466
(STG EQV) 1503.2 1377.5
TIN 5820/5830 5880/5885 6015/6025 5830
LEAD 670.00/1.00 678.00/9.00 657.00/2.00 671
(STG EQV) 409.02 414.59
ZINC 1162.0/63.0 1180.0/81.0 1182.0/87.0 1175.0/80.0 1163
ALU.HG 1599.0/99.5 1625.0/25.5 1627.0/32.0 1610.0/15.0 1599.5
NICKEL 7655/7665 7750/7760 7955/7975 8100/8120 7665
ALALLOY 1510.0/15.0 1530.0/35.0 1570.0/90.0 1515
SETTLEMENT RATES - GBP 1.6405 DEM 1.651 JPY 123.71
LME copper holds higher levels as tightness reigns
LONDON, Feb 6 (Reuter) - LME copper consolidated gains on
Thursday morning, getting used to higher figures again as
tightness persisted.
Several others followed the trend, taking a breather after
marching to fresh peaks in overnight and early morning activity.
In copper, belated borrowing against the previous day's
prompt (tom/next) was again done at the LME's imposed limit of
one percent of the previous day's cash settlement. On Thursday
it was $24.
Players had expected tightness to ease after the February
date in about two weeks, but now many say it will persist
longer.
This is showing up in the premium of cash over three months,
which was expected to lose about $24 each day as current tight
dates are dropped from the spread.
But the cash/threes backwardation has remained firm, being
bid up to $210 on Thursday, notching up an increase of about $10
over Wednesday instead of showing a loss.
The cash/Feb spread was bid up to a $125 backwardation.
The market was wary after being caught short on Wednesday
when arbitrage buying linked with Comex triggered a scramble to
cover bear positions and lifted the market through layers of
resistance.
"The market has turned around. Technicals are now looking
positive again," a floor trader said.
Three months ended the morning $13 firmer at $2,240, off a
high of $2,265.
There was a wide spread of expectations regarding stocks on
Friday after inventories increased by 8,750 tonnes on Tuesday.
Estimates ranged from unchanged to an increase of 10,000
tonnes.
"It's really hard to say. There is talk of material moving
out of Singapore, so if that materialises and turns out to be a
large chunk there could even be a draw," a floor trader said.
Some metal was expected to move into US warehouses, he added.
Nickel pulled back from a fresh 7-1/2 month peak of $7,880
hit in overnight and pre-market activity.
Prices oscillated under $7,800 in ring trading, finishing the
kerb at $7,755, down $55 from the previous kerb.
Chartists said the market was overbought and needed to let
off some steam. Important support was pegged at $7,580.
Zinc consolidated gains from Wednesday, when it achieved a
fresh two-year high of $1,190.
The market is seen as having further strength and should be
ready to challenge soon the psychological $1,200 area and the
January 1995 high of $1,239, analysts said.
Zinc finished the morning kerb off $2 at $1,182.
Aluminium ended the morning slightly weaker at the $1,625
pivot area, down $7. The market has been locked in a range over
the past couple of week between $1,600 and $1,650.
Most players expect further gains as soon as the market
gathers enough steam to knock down resistance at $1,640 and
$1,650.
Tin finished $15 firmer at $5,875 and lead was slightly
easier at $677/78 after $681.
Alloy was $5 weaker at $1,530/35.
FRANCUSKI METALI - 05. veljače 1997.
BAKAR FFR/100 KG 1400
KOSITAR FFR/100 KG 3826
CINK EL. FFR/100 KG 704
ALUMINIJ FFR/100 KG 1130(01/02)
SREB. C3E FFR/KG 827/974
PLATINA FFR/KG 53700/89400
PALADIJ FFR/KG 20200/28600
IRIDIJ FFR/KG 28500/51000
KOBALT FFR/100 KG 34785
ŽIVA FFR/100 KG 5200
NJEMAČKI METALI - 04. veljače 1997. - u DEM po 100 kg
GERMAN ELEKTROLITIK 400.21/411.25
OLOVO U KABELIMA 99.94% 125.50/126.50
061624 MET feb 97
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