LME base metals fall on Wednesday
Xinhua, March 26, 2015 Adjust font size:
The base metal prices on the London Metal Exchange (LME) closed lower on Wednesday as U.S. dollar strengthens.
Morgan Stanley cut its price forecasts for almost all base metals and bulk commodities amid the strengthening of U.S. dollar and the falling of oil prices and consumption demand.
The bank cut its 2015 forecast for copper price by 16 percent to 5,945 U.S. dollars per ton. It also lowered nickel price by 23 percent to 14,815 U.S. dollars per ton.
The three-month unofficial copper price dropped 6.5 U.S. dollars, or 0.11 percent, to 6,112 U.S. dollars per ton.
The three-month unofficial aluminium price lost 16.5 U.S. dollars, or 0.92 percent, to 1,772.5 U.S. dollars a ton.
The three-month unofficial lead price lost 4 U.S. dollars, or 0.22 percent, to 1,840 U.S. dollars a ton.
Besides, the three-month unofficial zinc price lost 0.5 U.S. dollars, or 0.02 percent, to 2,079 U.S. dollars a ton.
The three-month unofficial nickel price lost 400 U.S. dollars, or 2.84 percent, to 13,662.5 U.S. dollars a ton.
The three-month unofficial tin price lost 62.5 U.S. dollars, or 0.36 percent, to 17,425 U.S. dollars a ton. Endit