Markets and metal prices rose in China, EU, India and Brazil.
Global economic growth is starting to pick up and a result: "We're expecting particularly strong growth in China, India, Brazil and Germany".
Online, September 6, 2010 (Newswire.com) - Markets and metal prices rose in China, EU, India and Brazil. Shanghai China 1.54%, Nikei, Japan, +2.05, Hang Seng + 1.83. Indian shares ended higher today Bombay Stock Exchange settled the day at 18,560.05, higher by 338.62 points, or 1.86 per cent.
European stocks rose Monday The Stoxx Europe 600 Index was up 0.2% at 260.83. London's FTSE 100 Index rose 0.4% to 5448.25, Paris's CAC-40 added 0.4% to 3686.14 and Frankfurt's DAX added 0.3% to 6154.91. This is the best close of the Sensex since February 5, 2008, when it had ended at 18,663.16 points.
The National Stock Exchanges wide-based Nifty Index rose 1.78 per cent to finish at 5,576.95. Brazil's Bovespa stock index advanced as economists raised their estimates for economic growth
Gold's 1% rise last week resulted in its fifth straight week of gains.
Copper prices rose as stockpiles continued to shrink, indicating steady demand for the metal in China, US, and Germany, the world's third-largest copper user.
Copper for delivery in three months added $36, or 0.5 percent, to $7,682 a ton at 1:47 p.m. on the LME. Copper for delivery in December gained 0.1 percent to $3.502 a pound in electronic trading on the Comex in New York.
Nickel prices rose 2.2 percent to $22,072 a ton.
Aluminum rose 1.5 percent to $2,178.50 a ton and zinc advanced 1.6 percent to $2,184.75 a ton. Tin added 0.2 percent to $21,250 a ton and lead rose 0.9 percent to $2,187 a ton.
Ferrochrome price has increased by 5% and high carbon ferrochrome has also raised by USD 1.20 to USD 1.25 per lb.
Chrome ore prices rose in China, India, Albania, Turkey and South Africa as steel demand is picking up
Albanian Minerals President & CEO Sahit Muja said the positive demand for metals is based on many factors. Lower production and inventories, government stimulus programs and growth in Chinese and Indian consumption. Global economic growth
is starting to pick up and a result: "We're expecting particularly strong growth in China, India, Brazil and Germany".
Kerim Muja
Albanian Minerals
Scarsdale, New York