Nickel and Copper continue to climb to new highs, a nickel mine in Timmins is re-opening, its due to the Nickel price and an expected shortfall due to Vale Inco Strike. Crowflight minerals in Thompson Manitoba continue to ship their product to be refined here in Sudbury, both state that it costs about $3.50 per pound to mine.

Xstrata stated on Tuesdays that its mined copper production increased by 1 per cent, mined nickel output rose 7 per cent to 28,505 tonnes and zinc in concentrate production jumped 30 per cent to 493,808 tonnes due to the restructuring and expansion of the Mount Isa operations in Australia.

Gold prices finished flat yesterday, while other metals were slightly higher amid a mixed batch of earnings reports and economic data. In New York, gold for August delivery settled at $953.50 (U.S.), up 40 cents. September crude was up 33 cents, settling at $68.38.


CLOSING PRICES (SPOT)

Gold US$/troy ounce 954.68 2.75

Silver US$/troy ounce 14.05 0.17

Copper US$/lb 2.54 0.04

Lead US$/lb 0.81 0.02

Zinc US$/lb 0.76 0.01

Aluminum US$/lb 0.82 0.01

Nickel US$/lb 7.66 0.09

Oil West Texas US$/bbl 68.36 1.69

Nat Gas Henry Hub US$ mmbtu 3.46 0.09

Nat.Gas AECO C C$/gigajoule 2.88 -0.30

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