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Base metals prices

depict higher trend

LONDON: Trading in base metals remained routine up to the close of Friday's London Metal Exchange (LME) business, though aluminium dipped in late trading.

Traders said aluminium eased from a high of $1,925 and was likely to find support towards $1,900/10 as they expect consumer buying to emerge.

"Aluminium has good underlying support," one trader said.

A fall in LME stocks by 3,000 tonnes was supportive as several traders had expected build ups during the August period.

Last business was at $1,918, up on its low of $1,912 but little changed from Thursday's $1,916 close.

Copper dipped to $2,940 support following a LME stocks rise, then found renewed speculative buying during the afternoon session which lifted prices to $2,955, against $2,950.

Copper stocks rose 5,975 tonnes, up on market expectations of flat to 1,500 tonnes higher. The largest increase was again seen in U.S. warehouses.

Traders said they expected copper to continue to hold recent ranges next week amid the summer slowdown.

Tin trading remained dull as the market attempted to consolidate after a week of choppy trading. Market operators said they expected tin to move higher near term.

Copper dipped to $2,940 support following a LME stocks rise, then found renewed speculative buying during the afternoon session which lifted prices to $2,955, against $2,950.

Copper stocks rose 5,975 tonnes, up on market expectations of flat to 1,500 tonnes higher. The largest increase was again seen in U.S. warehouses.

Traders said they expected copper to continue to hold recent ranges next week amid the summer slowdown.

Tin trading remained dull as the market attempted to consolidate after a week of choppy trading. Market operators said they expected tin to move higher near term.

Copper dipped to $2,940 support following a LME stocks rise, then found renewed speculative buying during the afternoon session which lifted prices to $2,955, against $2,950.

Copper stocks rose 5,975 tonnes, up on market expectations of flat to 1,500 tonnes higher. The largest increase was again seen in U.S. warehouses.

Traders said they expected copper to continue to hold recent ranges next week amid the summer slowdown.

Tin trading remained dull as the market attempted to consolidate after a week of choppy trading. Market operators said they expected tin to move higher near term.

Tin was last at $6,970, unchanged.

Nickel continued to prod above $9,000 but was capped by trade and speculative selling. It settled at $9,030, up $20.

Lead traded narrowly but was underpinned by trade enquiry ahead of expected battery demand later in the year.

Supplies of high-grade material are tight in Europe. Lead stocks fell 400 tonnes. Last business was at $628, down $7.

Zinc also held narrow ranges and settled at $1,036, a loss of $7. Alloy ended last quoted at $1,730/50 against $1,745.

Traders said light Japanese selling pressure emerged early on. Alloy stocks were unchanged.-Reuter