Base Metals Summary Nov 28

on November 28th, 2008 at 1:44 pm

Base metals continued feebling, as industrial production data from Japan highlighted bleak prospects for demand in an oversupplied market. Lead fell to a two-year low at $1,081 a tonne as traders priced in falling demand from the auto sector, where sales have plunged. Effect of shanghai stocks ignored by investors where Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 8 percent in the week to Thursday, while aluminium stocks fell 1 percent. In LME Zinc declined to $1,186 a ton, lead fell to $1,076 a ton and nickel fell $150 to $9,800 a ton.

Source www.commodityonline.com