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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 11/29/2007 : 16:41:21
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Nickel leads metal meltdown
29 Nov, 2007, 0532 hrs IST, TNN
MUMBAI: Metals felt the heat on MCX on Wednesday. Nickel November contract lost 2.25% while January contract fell 2.22%. Gold June contract lost 2.09%.
Bullion turnover amounted to Rs 4,170.55 crore. Gold contracts, including gold mini, moved southwards by Rs 38-223 per 10 gm. Gold December traded down by 1.59% at Rs 10,222 per 10 gm. Silver contracts, including silver mini, slid by Rs 139-309 per kg. Silver December contract fell by 1.22% to Rs 18,774 per kg.
In the base metals segment, copper contracts turnover was Rs 476.67 crore. The November delivery contract was down 0.38 % at Rs 259.55 per kg. The turnover of all zinc contracts stood to Rs 287.38 crore.
Turnover on MCX at 5 pm amounted to Rs 6,125.91 crore.
At the agri counter, edible oil prices slipped on NCDEX while other commodities rose. NCDEX registered a turnover of Rs 1,779 crore with active trade in soya oil, guar seed, soyabean.
Guar seed closed up at Rs 1,681 per quintal posting a turnover of Rs 379 crore while chana closed up at Rs 2,289 per quintal recording a turnover of Rs 110 crore. Soya oil closed down at Rs 533.6 per 10 kg posting a turnover of Rs 301 crore, soyabean closed down at Rs 1,781 per quintal clocking a turnover of Rs 220 crore.
Pepper closed up at Rs 13,066 per quintal registering a turnover of Rs 150 crore, jeera closed up at Rs 9,718 per quintal posting a turnover of Rs 115 crore while rape mustard seed closed down at Rs 482 per 20 kg posting a turnover of Rs 127 crore.
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Wow, a U.S. nickel had only 117% melt value today.
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Think positive. |
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n/a
deleted
192 Posts |
Posted - 11/29/2007 : 18:50:00
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The unsorted nickels still have a better melt value than unsorted pennies.
All values are from You must be logged in to see this link. Thursday Nov 29th, 2007.
The melt value of a post 1982 zinc-clone is currently worth 64.10% of face value.
The melt value of a pre 1982 copper is currently worth 205.15% of face value.
Ryedale says that he consistently gets 29% coppers. (I get less!!!)
I'll use 30% to avoid argument. (this is a best case, conservative number).
If I had 30 coppers at 205.15% of face value they would be worth 61.55 cents.
And if I had 70 Zinclones at 64.10% they would be worth 44.87 cents.
61.55 + 44.87 = 106.42
If you follow that, you can see that an "average" set of one hundred unsorted pennies is worth one dollar, six and a half cents.
An unsorted set of 100 nickels, (AVERAGE OR NOT) is worth $1.17
Unsorted nickels are still worth more than unsorted pennies. |
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The market can stay irrational longer than you can stay solvent.
John Maynard Keynes,
English economist (1883 - 1946)
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Edited by - n/a on 11/29/2007 18:50:41 |
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fiatboy
Administrator
912 Posts |
 Posted - 11/29/2007 : 21:16:48
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At this point in the game, price fluctuations don't really bother me....
higher highs, higher lows, buying us more time, building support, whatever---
Unless the bottom falls out, I say bring on the metal!
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"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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beercritic
Penny Pincher Member
USA
112 Posts |
Posted - 11/30/2007 : 08:40:49
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100 nickels are worth more than $1.17
Face value alone is $5.00 |
______________________
The last official act of any government is the looting of the nation. |
Edited by - beercritic on 11/30/2007 09:08:33 |
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Nickel Leads Metal Meltdow.
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