Nickel Heads for 2nd Weekly Drop in London on Stockpile Gain; Lead Rises

(Bloomberg) -- Nickel headed for a second
consecutive weekly decline as stockpiles of the metal rise,
expanding supply. Lead increased and copper dropped.

Inventories of nickel tracked by the London Metal Exchange
grew 330 metric tons to 15,138 tons, the exchange said today in
a daily report. Stockpiles have risen fivefold since Feb. 6,
when they were at a 15-year low.


Read more at Bloomberg Commodities News

Lead Advances in London as Stockpiles Decline; Tin Gains to 18-Year High

(Bloomberg) -- Lead advanced the most in more than
a month in London as the amount of available metal dropped,
fueling speculation supply will fall short of demand. Tin
climbed to the highest since 1989 and nickel had its biggest
rise in six weeks.

Inventories of lead tracked by the London Metal Exchange,
or LME, declined 3.7 percent to 37,575 tons, the exchange said
today in a daily report. That's the biggest daily drop since
Nov. 30. Prices for the metal, used mostly in car batteries,
jumped 86 percent this year and outpaced other industrial metals
as supplies from Australia were disrupted and demand improved.


Read more at Bloomberg Commodities News

Copper Rises as Global Inventories Drop, Signaling Demand Outpaces Supply

(Bloomberg) -- Copper rebounded in New York after
global stockpiles of the metal declined, renewing supply
concerns.

Inventories tracked by the London Metal Exchange dropped
275 metric tons, or 0.3 percent, to 101,125 tons. Stockpiles
have tumbled 45 percent this year as imports surged in China,
the biggest consumer of the metal used in pipes and wires.
Before today, the price had gained 27 percent in 2007 as
worldwide demand outpaced mine output.


Read more at Bloomberg Commodities News

LME stocks cap price after copper hits 10-week high

(Reuters) - Copper was steady on Monday as rising stocks capped prices after they hit a 10-week high on bullish U.S. economic growth expectations and possible strike actions in top producer Chile, analysts said.

London Metal Exchange copper for delivery in three months was at $8,090/8,110 a tonne at 0932 GMT, down $20 against the close on Friday.


Read more at Reuters Africa