CIJENE OBOJENIH METALA NA BURZI U LONDONU

LONDONSKA BURZA KOVINA: SLUŽBENE CIJENE 11.09.1996. LME OFFICIAL PRICES - SEP 11 CASH 3 MTHS 15 MTHS 27 MTHS SETT COPPER 1928.0/29.0 1915.0/16.0 1870.0/80.0 1895.0/05.0 1929 (STG EQV) 1240.91 1232.96 TIN 6135/6145 6205/6210 6270/6280 6145 LEAD 814.00/5.00 818.50/9.50 790.00/5.00 815 (STG EQV) 524.28 527.35 ZINC 990.0/90.5 1016.0/16.5 1088.0/93.0 1113.0/18.0 990.5 ALU.HG 1409.0/09.5 1445.0/45.5 1565.0/70.0 1633.0/38.0 1409.5 NICKEL 7540/7542 7635/7640 7915/7935 8035/8055 7542 ALALLOY 1200.0/10.0 1235.0/40.0 1375.0/95.0 1210 SETTLEMENT RATES - GBP 1.5545 DEM 1.5095 JPY 110.12 LME under pressure by midday, further losses seen LONDON, Sept 11 (Reuter) - Investment fund and long liquidation against a backdrop of bearish chart patterns saw base metals under downside pressure by the London Metal Exchange (LME) midsession close. Traders were forecasting further losses near term, especially in aluminium and copper. Aluminium ended just above a two-year low of $1,437 a tonne, while copper probed towards key support at $1,900. Despite robust background fundamentals nickel dived from a 2-1/2 month high of $7,820 as copper and aluminium eased. Traders said aluminium moved lower on the back of slow physical demand and concern at recent rises in LME stocks. This week's major aluminium industry conference in Germany also dogged the market, because it failed to generate obvious bullish factors. "Most attending the meeting were bearish for aluminium...I would say only 20 percent were on the bullish side of the market," one LME floor trader who attended the conference said. He said aluminium was seen falling further as new capacity came on stream. "Noone is sure where the consumption will come from to absorb the rising capacity," the trader said. However, consumer buying did help give the market a short term reprieve. By the morning close three months aluminium was at $1,445, still down on Tuesday's LME close of $1,462. Chartwatchers are targeting levels of $1,425 and $1,400 as near-term downside levels for aluminium. Copper in fairly thin trading moved lower under broker, bank and chart-based selling. Several traders expected a short-covering bounce to emerge in the copper market but they still believed prices would test levels below $1,900 over the coming weeks. "With longs and banks unwinding their positions at the moment I would not be a major buyer," one copper trader said. Last business was at $1,918, down $6. Nickel finished at $7,650, against $7,700. Traders said they expected further gains given its recent impressive $400 chase higher from levels prevailing a week ago. News of a furnace explosion at Inco's Indonesian operation helped to underpin nickel against the backdrop of caution ahead of the September 15 labour contract expiry at Inco's Manitoba facilities. There has also been talk of Russian shipment delays, though major producer Norilsk said output and exports were on track. Zinc drifted lower to $1,015, versus $1,022.50, while lead settled at $817, a 50 cent loss. Tin was at $6,210, down $20, while alloy was at $1,245, against $1,270. 111621 MET sep 96