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LME base metals recover on Tuesday

Xinhua, June 24, 2015 Adjust font size:

The base metals prices on the London Metal Exchange (LME) recovered from Monday's lows on Greek optimism and forecast-beating numbers from China on Tuesday.

In China the June Markit Flash Manufacturing PMI rose to 49.6, better than May's final of 49.2. China is one of the most important metals consumers in the world.

For Greece, if eurozone finance ministers approve a cash-for-reform package on Wednesday evening, EU leaders could sign it off at a meeting on Thursday, releasing billions of euros in loans and preventing a default.

In the metals, the three-month unofficial copper price increased 127 U.S. dollars, or 2.25 percent, to 5,774 U.S. dollars per tonne.

In other metals, the three-month unofficial aluminium price increased 34.5 U.S. dollars, or 2.04 percent, to 1,728.5 U.S. dollars a tonne.

The three-month unofficial lead price was up 28 U.S. dollars, or 1.58 percent, to 1,801 U.S. dollars a tonne. Meanwhile, the three-month unofficial zinc price was up 28 U.S. dollars, or 1.38 percent, to 2,057 U.S. dollars a tonne.

The three-month unofficial nickel price was up 297.5 U.S. dollars, or 2.38 percent, to 12,787.5 U.S. dollars a tonne. The three-month unofficial tin price was up 62.5 U.S. dollars, or 0.41 percent, to 15,287.5 U.S. dollars a tonne. Endit