Metal Investments

Commodities

08. May 2008

Thursday, 12:00am GMT


  • Crude oil fell from a record high and dollar rose to an eight-week high against euro. New York oil futures declined on speculation slower economic growth in Europe will hurt the single currency. Crude oil for June delivery fell to $122.90 a barrel.

  • LME base metals are down this morning. Copper eased in early trade pressured by gains in the U.S. dollar. Stronger dollar makes commodities such as base metals more expensive for holders of other currencies. Copper stocks are up 1100 tons.

  • Aluminium is down to $2875 with LME stocks down by 925 tons.

  • Gold is at $869.95 almost unchanged from yesterday.

  • The FTSE 100 index is at 6258. The BoE is set to announce its rate decision at 1100 GMT and analysts expect the central bank to keep rates at 5 percent.

    LME Metals 3 Month Prices, 12:00pm GMT

    Bid Offer Change *
    Copper $8330 $8339 - $112.50
    Aluminium $2878 $2885 - $33
    Lead $2417 $2424 - $8
    Zinc $2240 $2243 - $2
    Nickel $28075 $28150 - $250
    Tin $24300 $24460 + $60

    * Change from previous day's close