Copper Heads for Record Weekly Gain, Industrial Metals Jump on Europe Pact

Copper , Metals Oct 27, 2011 No Comments

CopperOn the London Metal Exchange, copper for delivery in three months rose 6.1 percent to close at $8,145 a metric ton ($3.69 a pound) at 6:32 p.m. This week, the commodity has jumped 14 percent, poised for the biggest increase since Bloomberg data starts in April 1986.

Copper futures for December delivery advanced 5.8 percent to $3.692 a pound on the Comex in New York. This month, the price has surged 17 percent, heading for the largest gain since March 2009.

Nickel rose 4.1 percent to $19,900 a ton today on the LME. This month, the price has jumped 13 percent in October, heading for the biggest gain since March 2010.
Lead soared 6 percent today, and zinc advanced 4.9 percent in London. Tin climbed 3.2 percent, and aluminum rose 1.8 percent.

A gauge of copper, aluminum, lead, nickel, zinc and tin on the LME rose 4.8 percent today. This week, the index has climbed 10 percent, heading for the biggest gain since early 2009.

via Copper Heads for Record Weekly Gain, Industrial Metals Jump on Europe Pact – Bloomberg.

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Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.

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