Rus News Journal

Metals: in sales there has come a break

On Friday, on August, 13th, at the auctions by industrial metals the correctional rebound upwards was observed. Before sales proceeded throughout three sessions successively, and the macroeconomic statistics did not give possibility to bulls to lift a head. On Friday the most part of the data from the USA also has appeared more poorly forecasts, but has at least specified in a certain improvement in some sectors. On contracts demand has quickly returned, and even the proceeded strengthening of dollar concerning euro remains without attention. Considering importance of the currency factor at definition of the prices for dollar contracts on base metals it is necessary to be afraid that ascending correction will be short.

3 - month Forward Prices, LME (results of the auctions at 18:00 on the London time):



the Most considerable increase in value it was possible to show to tin which has risen in price for 2,98 % - to 20595 dollars/ t. Psychologically important level of support 20000 dollars/ t has the day before resisted that became the big good luck for bulls as otherwise followed expect only strengthening of sales.

have considerably added in the price also lead (+1,48 %) and nickel (+1,9 %). Last on Thursday was the absolute outsider of the auctions and has found maximum among other metals potential for cost restoration. For its full realisation, truth, it is necessary to overcome a mark 21700 dollars/ t as now quotations are practically in the middle konsolidatsionnogo a range 21200 - 21700 dollars/ t.

Copper, zinc and aluminium last days became cheaper not so quickly as the others, therefore have not received considerable speculative appeal. On Friday copper has risen in price for 0,24 % - to 7215 dollars/ t, zinc - on 0,93 %, to 2058 dollars/ t, aluminium - on 0,51 %, to 2148 dollars/ t.

Warehouse stocks of metals on LME as of August, 13th:


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