LME base metals rise mostly on Thursday

The base metal prices on the London Metal Exchange (LME) closed mostly higher on Thursday.

The base metal prices rose mostly on Thursday as the European Central Bank (ECB) decided to start euro zone quantitative easing. That move eased concerns about demand.

The ECB announced on Thursday to start quantitative easing by purchasing public and private securities in a bid to address prolonged low inflation.

The purchasing would start in March 2015 with a monthly amount of 60 billion euros (69.48 billion U.S. dollars).

The three-month unofficial copper price increased 55.5 U.S. dollars, or 0.98 percent, to 5,722.5 U.S. dollars per tonne.

The three-month unofficial aluminium price increased 31 U.S. dollars, or 1.69 percent, to 1,866.5 U.S. dollars a tonne.

The three-month unofficial lead price increased 13 U.S. dollars, or 0.69 percent, to 1,909 U.S. dollars a tonne.

Besides, the three-month unofficial zinc price increased 22 U.S. dollars, or 1.04 percent, to 2,128 U.S. dollars a tonne.

The three-month unofficial nickel price increased 337.5 U.S. dollars, or 2.30 percent, to 14,987.5 U.S. dollars a tonne.

The three-month unofficial tin price lost 25 U.S. dollars, or 0.13 percent, to 19,375 U.S. dollars a tonne. Enditem