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Commodities Briefing - Categorized | Financial, Market Moves, Price Watch more

Resolution of ‘fiscal cliff’ pushes up commodities

Posted on 03 January 2013

Lead drove base metals high on the benchmark London Metal Exchange, following American lawmakers agreeing on a long-awaited deal to avoid a fiscal crisis. The US leaders approved a plan to prevent huge tax increases and delay spending cuts that together might have pushed the world’s largest economy off the “fiscal cliff” and into a likely recession.
While the lead price hit a 15-month high to settle at $2,385 a tonne, copper followed and achieved a two-week high of $8,085 a tonne today. Other base metals, including aluminium, zinc and tin, moved the same way………………………………………..Full Article: Source


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