Metal Investments

Base Metals

17. June 2008

Tuesday, 09:20am GMT


  • Base metals climbed to its highest in three weeks on Monday due to a weak dollar and record high oil prices. The premium for copper for nearby delivery jumped to its highest level in more than two years while over 90 percent of registered copper inventories are now being being held by a single party according to LME data. The premium for copper for immediate delivery was above $200 per tonne at its highest since November 2005.

  • Oil prices fell today after surging to all-time highs close to $140 a barrel. New York futures contract, light sweet crude for July delivery, dropped to 134.46 dollars a barrel after record of $139.89 on Monday.

  • Aluminium on the LME is above $3000 a tonne this morning, stocks are down by 1325t to 1,069,275t.

  • Gold is at $887.20.

  • The FTSE 100 index was at 5845 up 51 points.