LME base metals decline mostly on Wednesday
Xinhua, April 9, 2015 Adjust font size:
The base metal prices on the London Metal Exchange (LME) closed lower mostly on Wednesday, as the oil price plunged.
The Brent Crude Oil Futures fell 4.5 percent to 56.45 U.S. dollars per barrel by 1800 GMT during Wednesday's trading session as Saudi Arabia reported record output in March.
Saudi Arabia's oil minister, Ali al-Naimi, said on Tuesday the country produced 10.3 million barrels per day (bpd) of crude in March, more than its previous recent peak of 10.2 million bpd in August 2013.
The three-month unofficial copper price dropped 97 dollars, or 1.59 percent, to 5,991 dollars per tonne.
The three-month unofficial aluminium price lost 41.5 dollars, or 2.32 percent, to 1,748.5 dollars a tonne.
The three-month unofficial lead price increased 8 dollars, or 0.42 percent, to 1,916 dollars a tonne.
Besides, the three-month unofficial zinc price lost 5 dollars, or 0.23 percent, to 2,149 dollars a tonne.
The three-month unofficial nickel price lost 82.5 dollars, or 0.64 percent, to 12,737.5 dollars a tonne.
The three-month unofficial tin price lost 37.5 dollars, or 0.22 percent, to 16,737.5 dollars a tonne. Endit