Market Report |
Monday Report: Dec. 11, 2006
Nothing like a better-than-expected U.S. jobs report to add some life to the marketplace…the LME ended mostly firmer with traders citing the November report that, to some, offered convincing evidence that weakness in the economy has been contained to the housing and auto sectors…for the week, the LME ended mostly higher…tin, meanwhile, hit a fresh record on Friday as Indonesian supply worries mounted…March Comex copper added 105 points @ $3.1125…Feb gold closed out the week lower @ $631, and January crude finished Friday down 46 cents @ $62.03…
| Friday Report: Dec. 8, 2006
As 2006 winds down, so will trading activity, but lower volumes also mean greater price volatility, market nervousness, and uncertainty as to the direction metals are heading based on the latest macro-economic indicators…add to that this week's options expirations (aluminum) and the on-going supply worries surrounding nickel, zinc, and tin, and you've more than enough to keep folks guessing…at any rate, Monday saw LME aluminum hit a multi-month high before backing off…copper held steady…nickel was off a little while lead and zinc were stronger…and in New York, March Comex copper settled up 40 points @ $3.1760, January crude oil fell…on Wall Street, the Dow gained…yep, December's going to be a fun month for both fundamentalists and technical traders…
| Friday Report: Dec. 1, 2006
Monday's LME featured another record for nickel ($34,100) while zinc matched its previous high of $4,580 (November 10th)...while many see these two as "over baked," the fundamentals are certainly supportive and the dollar is real weak so that helps, too...copper and aluminum were weaker on the day...in New York, March Comex copper had a day, ending @ $3.2155, up 7.95 cents...gold and silver were firmer, as was crude oil—the Jan contract closed @ $60.32/bbl...and on Wall Street, equities succumbed to some profit taking...the Dow gave back 158 points to close at 12,122...
| Friday (Wednesday) Report: Nov. 22, 2006
The week started off with the LME up all around compared with last Friday’s weak close…traders noted a
lack of activity due to the shortened trading week and credited most of Monday’s buying to short
covering…Comex Dec copper eased 160 points lower @ $3.0415 (last Friday, the Dec contract traded
close to a five-month low of $2.975)…in the precious metals arena, Dec gold was also slightly lower,
closing @ $622.10, while platinum took off with the January up $42.20 @ $1,234.30…participants citied
developing supply tightness, options-related activity, plus fund and speculative buying…Jan crude oil
settled lower @ $58.80…
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