Base Metals Mostly Lower
Doug Casey (June 29th, 2009) Writes:
The base metals were nearly all in the red on Friday. Copper was in the green until just after the New York open, then plummeted to the noon hour, before rising a bit late in the day to finish at $2.2724/lb., down 2¾ cents.
Nickel rose until mid-morning and, though it sold off from there, still managed a positive close at $7.0949/lb., up more than 6½ cents. Zinc was flat until mid-morning, but fell off to end at $0.704/lb., down 2¼ cents. Aluminum fell for most of the day, dropping a penny and a third, to $0.7312/lb., while lead was modestly lower, shedding about a penny, to $0.7667/lb.
Copper led the bulk of the industrial metals lower, as the slide in equities weighed on the sector, along with investor profit-taking that could be prolonged into early next week as both the month and the quarter come to an end, with
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