Metal Investments

Recession around the corner?

25. Sept. 2008

Monday, 11:05pm GMT


  • LME 3M Copper is down to $6911 per tonne. Copper prices fell also in New York as fears of a demand slowdown and uncertainty surrounding the U.S. government's proposed $700 billion bailout of financial markets are gripping the market.

  • Oil fell slightly on Thursday on uncertainty about the proposed US $700 billion bank bailout plan and signs of slumping demand in top consumer nations. US crude traded down 82 cents to $104.91 a barrel by 0915 GMT, adding to losses of 88 cents on Wednesday. London Brent crude fell 82 cents to $101.63.

  • LME 3M Aluminium price is currently trading at $ 2480 per tonne with LME warehouse stocks increasing every day. Yesterday they stood at 1.363 million tonnes.

  • Gold is steady at $ 888.90.

  • FTSE 100 is up 29 pints to 5123. Footsie has moved slightly higher after a flat start, with financial stocks among the top risers. Banks are going well led by HBOS, as are insurers with RSA Insurance the best performer in the sector.

  • TRADING PREFERENCE

    COPPER

    Support $6685, Resistance $7100

    Recommend.: Sell

    ALUMINUM

    Support $2400, Resistance $2600

    Recommend.: Sell

    Legal disclaimer and risk disclosure:

    The information in this report is provided for informational purposes only.