LME base metals drop mostly on Monday

The base metals prices on the London Metal Exchange (LME) closed lower mostly on Monday.

The base metals prices were under pressure after Greek public's rejection of austerity measures from creditors in a referendum on Sunday.

The Greek people on Sunday gave an overwhelming "No" in the referendum on a rescue package from creditors, dramatically increasing the chance for the country to crash out of the eurozone.

The market concerned that Greece was considerably closer to exiting the eurozone, weighing on the metals prices.

The three-month unofficial copper price dropped 175 U.S. dollars, or 3.04 percent, to 5,586 U.S. dollars per tonne.

The three-month unofficial aluminium price lost 20 U.S. dollars, or 1.17 percent, to 1,691 U.S. dollars a tonne.

The three-month unofficial lead price lost 11 U.S. dollars, or 0.62 percent, to 1,757 U.S. dollars a tonne.

Besides, the three-month unofficial zinc price lost 9.5 U.S. dollars, or 0.47 percent, to 2,007.5 U.S. dollars a tonne.

The three-month unofficial nickel price lost 300 U.S. dollars, or 2.50 percent, to 11,687.5 U.S. dollars a tonne.

The three-month unofficial tin price increased 250 U.S. dollars, or 1.78 percent, to 14,325 U.S. dollars a tonne. Endit