LME base metals mostly decline on Wednesday
Xinhua, February 5, 2015 Adjust font size:
The base metal prices on the London Metal Exchange (LME) mostly closed lower on Wednesday.
The prices dropped as the oil price slumped sharply. Brent Crude Oil Futures dropped as much as 4.7 percent to 55.19 U.S. dollars a barrel during Wednesday's trading session, data from BBC showed.
The copper price rose after People's Bank of China announced to lower the reserve requirement ratio (RRR). This is the first universal RRR cut since May 2012.
The three-month unofficial copper price increased 52 U.S. dollars, or 0.92 percent, to 5,689 U.S. dollars per tonne.
The three-month unofficial aluminium price lost 12 U.S. dollars, or 0.63 percent, to 1,881 U.S. dollars a tonne.
The three-month unofficial lead price lost 9.5 U.S. dollars, or 0.51 percent, to 1,851.5 U.S. dollars a tonne.
Besides, the three-month unofficial zinc price lost 17 U.S. dollars, or 0.79 percent, to 2,141 U.S. dollars a tonne.
The three-month unofficial nickel price lost 400 U.S. dollars, or 2.59 percent, to 15,050 U.S. dollars a tonne.
The three-month unofficial tin price increased 25 U.S. dollars, or 0.13 percent, to 18,975 U.S. dollars a tonne. Endit