Industrial Metal Closing Prices 5-25-07

Metal LB in USD Cash 3 Month 15 Month

Copper 3.2396 3.2296 2.9778

Aluminum 1.2487 1.2623 1.2188

Nickel 23.1332 21.3438 18.0076

Lead .9779 .9866 .8868

Zinc 1.6375 1.6332 1.4869

Industrial Metal Closing Prices 5-18-07

London Metal Exchange May 18 '07
USD/LB Cash 3m 15m
Nickel 23.7229 22.2283 18.1551
Lead .9049 .9163 .8292
Tin 6.3049 6.2596 5.8627
Zinc 1.6468 1.6520 1.4982

USD/LB Cash 3m 15m
Aluminum 1.2614 1.2769 1.2261
Alum Alloy .9938 1.0138 1.0591
NA Alloy .9893 1.0115 1.0433
Copper 3.2931 3.2749 3.0028

Copper rallied on Tuesday on stronger than anticipated demand from China.

China's imports of copper and copper products from January through April are estimated at 1.1 million metric tons.

China's imports of refined copper, anode and copper alloy in April stood at 304,672 tons.

That was down by 6.5 percent from March's record of 307,740 tons but exceeded expectations.

Nickel prices gained $1,800 to $50,850 a ton

Zinc traded down by $19 at $3,936 and Lead moved up by $9 to $2,084 a ton

Zinc is currently up almost 40 percent since early February.

Copper prices fell in Shanghai trading on Monday, after a 25% rise in copper stocks last week. However, dealers said London prices could regain $8000 a ton on a positive technical outlook.

Shanghai July copper was at 68 880 yuan a ton at the close, down 540 yuan from Friday. Prices earlier climbed over 1 percent before easing.

"Imports will probably be fairly high again for April and I think that is why there is some selling around. May is quite often the peak for metals prices in the first half, so the market may be under pressure," a dealer in Shanghai said.

China'a refined copper imports were up nearly 150% in March to more than 200 000 tons and imports in the first quarter were almost 500 000 tons.

Peru's largest mining union has declared an end to their 5 day strike.

Union officials report that the government has responded to a number of its demands for greater benefits and improved conditions for contract workers.

"We have agreed to suspend our strike starting today," Luis Castillo, leader of the National Federation of Metallurgic and Steel Miners, told a news conference.

Copper hit a new 11 month high on Friday and nickel and lead set new contract highs.

Concerns over supplies and inventories, as well as a decline in the US Dollar continue to buoy price.

Many markets in Asia were closed this week due to the May Day holiday thus reducing liquidity across the global markets.

Peru continues to be an area of concern as 30,000 mining workers remain on strike. The miner are demanding higher wages and will vote later today on extending the strike.

A continued nationwide strike among miner in Peru, as well as strong demand from the US and Europe, moved copper prices higher on Thursday.

The LME reports further decline in copper inventories. Stocks have dropped by nearly 30,000 tonnes since the beginning of April. At 2.46 pm, LME copper for three-month delivery was up at 8,015 usd a tonne against 7,745 usd at the close Friday.

China's copper use will rise to 6.5 million metric tons by 2020

China's state-owned Xinhua News Agency reported on Wednesday that China's copper use will rise to 6.5 million metric tons by 2020 , citing estimates from a conference.

According to an estimate by London-based research company Bloomsbury Minerals Economics Ltd. China's consumption will rise 11 percent this year to 4.45 million tons.
Copper use has expanded in line with the nation's economy, which grew 11.1 percent in the first quarter.