04.01.2013 - Short commodities spike staggers belief
Thatís what it looks like after the one-day boom-let on the London Metal Exchange on the fiscal cliff avoidance. Up all the base metals went -- aluminium by 4.2 per cent, copper by 3.3 per cent and tin by 4.5 per cent. And, last night, they all came down again, not quite losing all the previous nightís gains. But give them time. Zinc was the biggest loser overnight, shedding 2.4 per cent to close at $US2088 a tonne. However, copper was still looking surprisingly strong at $US8164/tonne and tin positively muscular at $US23,980/tonne...............................................Full Article: Source
Print