Stronger dollar drags down LME base metals on Tuesday
Xinhua, March 11, 2015 Adjust font size:
The base metal prices on the London Metal Exchange (LME) closed lower on Tuesday.
The U.S. dollar Tuesday surged 0.93 dollars against 1 euro as the European Central Bank (ECB) began its quantitative easing policy on Monday.
The ECB began its 60 billion euros per month bond buying program with the aim to fend off deflation and boost the eurozone economy by pumping more money into real economy.
The three-month unofficial copper price dropped 74 U.S. dollars, or 1.26 percent, to 5,780 U.S. dollars per tonne.
The three-month unofficial aluminium price lost 21 U.S. dollars, or 1.17 percent, to 1,767 U.S. dollars a tonne.
The three-month unofficial lead price lost 17 U.S. dollars, or 0.93 percent, to 1,814 U.S. dollars a tonne.
Besides, the three-month unofficial zinc price lost 13 U.S. dollars, or 0.64 percent, to 2,027 U.S. dollars a tonne.
The three-month unofficial nickel price lost 512.5 U.S. dollars, or 3.50 percent, to 14,137.5 U.S. dollars a tonne.
The three-month unofficial tin price lost 287.5 U.S. dollars, or 1.58 percent, to 17,887.5 U.S. dollars a tonne. Endit