LME base metals decline on Wednesday

The base metal prices on the London Metal Exchange (LME) closed lower on Wednesday, as uncertainty of Greece and disappointed data from the United States.

Renewed concerns about Greece weighed on the base metals prices on Wednesday as investors scaled back their appetite for risk.

Greece still needs the vote from several euro zone countries to secure it request, especially Germany.

Sales of U.S. new homes fell slightly in January, data from the U.S. Commerce Department showed Wednesday. The sales of new single-family houses in January were at a seasonally adjusted annual rate of 481,000, 0.2 percent below the revised December rate.

Federal Reserve Chair Janet Yellen continued her semiannual testimony on monetary policy and the economy before the House Committee on Financial Services Wednesday.

The three-month unofficial copper price dropped 47.5 U.S. dollars, or 0.82 percent, to 5,770.5 dollars per tonne.

The three-month unofficial aluminium price lost 21 dollars, or 1.15 percent, to 1,805 dollars a tonne.

The three-month unofficial lead price lost 22 dollars, or 1.23 percent, to 1,761 dollars a tonne.

Besides, the three-month unofficial zinc price lost 11 dollars, or 0.53 percent, to 2,069 dollars a tonne.

The three-month unofficial nickel price lost 100 dollars, or 0.69 percent, to 14,312.5 dollars a tonne.

The three-month unofficial tin price lost 112.5 dollars, or 0.62 percent, to 18,062.5 dollars a tonne. Endit