Metals: players have started to fix profitLeaving week the market of industrial metals has finished on the minor note. On Friday, on October, 15th, players have preferred to fix profit after three days of growth (only on Tuesday, on October, 12th, dynamics was mixed) as the news background quite promoted sales. Performance of head FRS the USA Ben Bernanke could not support for a long time the markets as its words though sounded positively, but have not given the answer to a main point - the volume of monetary support of economy will be how much impressive. The macroeconomic statistics of the USA and dollar growth in relation to euro also did not promote growth of positive moods. As a result all industrial metals have finished session by decrease.
3 - month Forward Prices, LME (results of the auctions at 18:00 on the London time):
the Greatest decrease on Friday has shown tin. Pressure was rendered by growth of its stocks on LME on 0,48 %. Metal has appeared the only thing in the group which stocks have increased. “ bears “ have used chance “ to roll away “ quotations from a historical maximum also have withdrawn them downwards on 1,74 % - to a mark 26850 dollars/ t. Aluminium and lead have shown absolutely identical result, both metals have lost on 1,23 % of cost. And lead quotations were rolled away to an April maximum 2390 dollars/ t, overcome only current week.
other metals looked slightly more vigorous, to 1 % which has lost more zinc (- 1,09 %) has joined. Nickel and copper were limited to decrease on 0,84 % and 0,53 %. Concerning copper there is no yet an impression that four-monthly rally is ready to come to the end. Most likely, prior to the beginning of high-grade descending correction “ bulls “ - taki quotations will have time to drag to level of a two-year maximum to which there were hardly more than 5 % all.
last nine months process of restoration of world economy has begun to decline. On this background economist Pointon York Roger Najtingejl with surprise specifies in the high prices for raw materials. China, as he said, is not the answer. If from the Chinese growth of consumption to subtract demand reduction in Japan, America and Europe, the final figure will be not such big. A unique explanation of the high prices is superfluous liquidity which provokes speculators to raw materials purchase. And all perfectly know that speculators at first buy, then sell. Hence, now it is not necessary to count on a steady rise in prices for industrial metals, oil and other raw materials, has concluded R.Najtingejl.
Warehouse stocks of metals on LME as of October, 15th:
- Real estate: the Habitation in Russia following the results of 2010 will rise in price no more than on 1,5 - 1,8 %
“. The personal finance “: The bank of Russia will leave only dot interventions