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LME prices as opposed to "spot" prices

Joined
25 August 2005
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could someone briefly explain the difference and which prices "traders" observe ie do people take much notice of "spot prices" on kitco .com or the LME prices on Basemetals. com what would be the variance in prices ie a few cents in regards to zinc. i have googled it but am still confused. why have both markets etc, and which one is more important to monitor

thanx
 
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