Copper closed higher on the London Metal Exchange (LME) on Thursday, supported by early trade buying from Asia, but the market was nervous and sentiment was becoming bearish, analysts and traders said. Benchmark three-months copper was at $3,181 a tonne, at the kerb close, up $17 from the previous day's close. On Wednesday copper lost about 1.6 percent on fund selling. "We saw some good physical buying from the Far East in the morning, but technically nothing was resolved with this close," one trader said.
"There was some nervousness in New York related to weakness in other commodities, especially crude."
NYMEX crude fell below $50 a barrel for the first time since April 18.
"Metals are on the back foot and further sharp falls are in the offing," Calyon analyst Maqsood Ahmed said in a note.
US first quarter GDP growth was 3.1 percent up, against a median forecasts of 3.6 percent.
"The reaction was a little odd but some people were expecting even weaker numbers so perhaps with the benefit of hindsight this was to be expected," another trader said.
Analysts said the market would be very slow next week due to holidays in the UK, China and Japan.
Other metals were mixed, with aluminium up 9 at $1,811, supported by a 1,025 tonne stock fall. Zinc rose $4.50 to $1,274.50, while lead was flat at $936.
"Zinc was disappointing despite reports that China may abolish its export rebates," the first trader said.
Tin was down $25 at $7,975/8,000 but nickel rose $75 to $15,750.
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