Copper price slumps on Wednesday
Xinhua, January 15, 2015 Adjust font size:
The base metal prices on the London Metal Exchange (LME) closed lower on Wednesday.
Copper prices dropped 4.6 percent on Wednesday as investors worried about global economic outlook.
The World Bank cut global economy growth forecasts of this year to 3 percent from 3.4 percent.
Copper price, as a barometer of global economic demand, declined largely as the gloomy economic outlook. According to Barclays analysts, copper price will drop further in the future.
The three-month unofficial copper price dropped 270 U.S. dollars, or 4.61 percent, to 5,585 dollars per tonne.
The three-month unofficial aluminium price lost 10 dollars, or 0.56 percent, to 1,791 dollars a tonne.
The three-month unofficial lead price lost 37 dollars, or 2.03 percent, to 1,788 dollars a tonne.
Besides, the three-month unofficial zinc price lost 44 dollars, or 2.09 percent, to 2,061 dollars a tonne.
The three-month unofficial nickel price lost 262.5 dollars, or 1.77 percent, to 14,562.5 dollars a tonne.
The three-month unofficial tin price lost 87.5 dollars, or 0.45 percent, to 19,537.5 dollars a tonne. Endit