LME base metal prices drop mostly on Monday

December 30, 2014 10:02 am 

LONDON, Dec. 30 — The base metal prices on the London Metal Exchange (LME) closed lower mostly on Monday.

The U.S. dollar index, which measures the greenback against a basket of six major currencies, exceeded 90 again on Monday. The strong U.S. dollar weighed on base metal prices.

"Copper faces pressure from weak demand and a strong U.S. dollar. Given the lack of positive news, we believe that LME copper may fall further and test the US$ 6,260 level last struck in March," Capital Futures said in a report.

The three-month unofficial copper price dropped US$ 54.25, or 0.86 percent, to US$ 6,265 per tonne.

The three-month unofficial aluminium price increased US$ 1.25, or 0.07 percent, to US$ 1,865 a tonne.

The three-month unofficial lead price lost US$ 11.5, or 0.62 percent, to US$ 1,842.5 a tonne.

Besides, the three-month unofficial zinc price lost US$ 11.75, or 0.54 percent, to US$ 2,146 a tonne.

The three-month unofficial nickel price lost US$ 220, or 1.44 percent, to US$ 15,087.5 a tonne.

The three-month unofficial tin price increased US$ 277.5, or 1.48 percent, to US$ 19,025 a tonne. (PNA/Xinhua)

LGI/JSD

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