Base metals prices mixed

Base metals were mixed on Thursday, with the price for most seeing declines, while copper and lead prices were higher.

December copper, added 2 cents to $3.59 per pound in New York, while three-month copper on the London Metal Exchange gained $30 to $7,915 per tonne.

Lead added $13 to $3,248 per tonne in London.

Three-month aluminium was $34 lower in late afternoon trade in London to $2,450 per tonne, while zinc dropped $85 to $2,899 per tonne, tin was down $100 to $15,250 per tonne and three-month nickel fell $1,200 to $32,600 per tonne on the LME.

Precious metals prices were significantly higher.

December gold was as high as $746.50 per troy ounce in morning trade in New York but fell back to $740.20 at the close of floor trade on the COMEX, still a gain of $10.70 on the session, while gold for immediate delivery was $15.11 higher in London to $736.51 per troy ounce.

December silver added 37 cents to $13.47 per troy ounce while October platinum gained $20.10 to $1,328.50 per troy ounce.

Crude oil prices were higher on the day, with October contracts for West Texas Intermediate crude up $1.97 to $83.90 per barrel just before the close of trade on the New York Mercantile Exchange.

Brent crude for November delivery was 42 cents lower to $78.05 per barrel in late morning trade in London, but by mid-afternoon New York time the contract had added 70 cents over Wednesday’s close to $79.17 per barrel.

Nymex October gasoline was 5 cents higher to $2.14 per gallon, while November heating oil gained 2 cents to $2.28 per gallon and November natural gas added 8 cents to $6.99 per million British thermal units.

December corn on the Chicago Board of Trade was up 11 cents to $3.69 per bushel on the possibility that China could become a net importer of the grain for the first time in over a decade.

Meanwhile, Decmeber wheat was up 5 cents to $8.50 per bushel at last report, while November soybeans had added 18 cents to $9.88 per bushel.

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