LME base metals rise mostly on Monday
Xinhua, March 3, 2015 Adjust font size:
Base metal prices on the London Metal Exchange (LME) closed mostly higher on Monday, after the Chinese central bank announced an interest rate cut over the weekend.
The People's Bank of China (PBOC), China's central bank, on Saturday announced that it would cut the benchmark deposit and loan interest rate by 25 basis points (bps) starting March 1.
After the cut, the one-year deposit rate stood at 2.5 percent, while one-year lending was at 5.35 percent.
The three-month unofficial copper price increased 86 U.S. dollars, or 1.47 percent, to 5,939 dollars per tonne.
The three-month unofficial aluminium price increased 7.5 dollars, or 0.42 percent, to 1,811.5 dollars a tonne.
The three-month unofficial lead price increased 6.5 dollars, or 0.37 percent, to 1,740 dollars a tonne.
Besides, the three-month unofficial zinc price increased 1 dollar, or 0.05 percent, to 2,064 dollars a tonne.
The three-month unofficial nickel price lost 60 dollars, or 0.43 percent, to 13,970 dollars a tonne.
The three-month unofficial tin price increased 75 dollars, or 0.42 percent, to 17,750 dollars a tonne. Endit