Stronger U.S. dollar weighs on LME base metals on Monday
Xinhua, May 19, 2015 Adjust font size:
The base metal prices on the London Metal Exchange (LME) closed lower on Monday, largely due to a stronger U.S. dollar index.
The U.S. dollar rose against other major currencies on Monday as a result of a possible rate hike by the U.S. Federal Reserve bank in June if the economy is strong enough.
The dollar index increased 0.85 percent to stand at 93.93 in late trading on Monday, data from Bloomberg showed.
The three-month unofficial copper price dropped 38 U.S. dollars, or 0.59 percent, to 6,374 U.S. dollars per tonne.
The three-month unofficial aluminium price lost 26 U.S. dollars, or 1.40 percent, to 1,826 U.S. dollars a tonne.
The three-month unofficial lead price lost 4 U.S. dollars, or 0.20 percent, to 1,971 U.S. dollars a tonne.
Besides, the three-month unofficial zinc price lost 9 U.S. dollars, or 0.39 percent, to 2,282 U.S. dollars a tonne.
The three-month unofficial nickel price lost 190 U.S. dollars, or 1.36 percent, to 13,760 U.S. dollars a tonne.
The three-month unofficial tin price lost 112.5 U.S. dollars, or 0.71 percent, to 15,812.5 U.S. dollars a tonne. Endit