-Base metals moved from session lows but remained mostly under pressure during Friday’s open-outcry sessions, hemmed in by wavering risk sentiment amid political unrest in Egypt and a soft euro.
- Trouble continues to flare in Egypt, where demonstrators are continuing to protest against the regime of President Mubarak, who last night again refused to step down despite growing international pressure. The euro remained down and was at 1.3526 against the dollar, down three quarters of a cent and keeping metals on the back foot.
- Copper traded down at $9,925 per ounce, down $26 but bouncing off an intraday low of $9,848. Cancelled warrants - the metal booked for removal - fell a net 1,325 tonnes to 9,625 tonnes, more than offsetting a 225-tonne stock withdrawal. Inventories now stand at 396,725 tonnes.
- Aluminium slipped to its cheapest since January 31 at $2,496 per tonne before settling at $2,507, still $30 lower. Lead and zinc traded at $2,510 and $2,433 respectively, flat and down $15. But nickel gained $12 to $27,887 per tonne, while tin was at $31,600, up $100.
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