LME base metals drop on Wednesday

GMT 02:45 2015 Thursday ,06 August

Arab Today, arab today LME base metals drop on Wednesday

LME base metals drop
London - XINHUA

The base metals prices on the London Metal Exchange (LME) closed lower on Wednesday.

The stronger U.S. dollar index weighed on metals prices.

Federal Reserve Bank of Atlanta President Dennis Lockhart, a member of the Federal Reserve's policy setting committee, said it would take a sharp turn for the worst in economic data to change his view in support of a rate hike after the mid-September meeting.

Besides, new orders for U.S. factory goods rebounded strongly in June, data from the Commerce Department showed on Tuesday.

The three-month unofficial copper price dropped 34 U.S. dollars, or 0.65 percent, to 5,194 dollars per tonne.

The three-month unofficial aluminium price lost 13 dollars, or 0.80 percent, to 1,604 dollars a tonne.

The three-month unofficial lead price lost 9 dollars, or 0.52 percent, to 1,712 dollars a tonne.

Besides, the three-month unofficial zinc price lost 19 dollars, or 0.99 percent, to 1,896 dollars a tonne.

The three-month unofficial nickel price lost 17.5 dollars, or 0.16 percent, to 10,907.5 dollars a tonne.

The three-month unofficial tin price lost 550 dollars, or 3.42 percent, to 15,525 dollars a tonne.

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