Buyers focus on the near term

In October, the European non-ferrous metals markets remained in the doldrums amid concern over the deep financial problems in some EU countries. Although both metal producers and processors are reporting decent order books, buyers are showing restraint, with long-term contracts becoming the exception rather than the rule. As per November 4, LME cash prices were at the following per-tonne levels: aluminium US$ 2123; copper US$ 7844.50; lead US$ 1990; zinc US$ 1921.50; and tin US$ 22 080.

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