LME base metals close lower on Wednesday
Xinhua, July 23, 2015 Adjust font size:
The base metals prices on the London Metal Exchange (LME) closed lower on Wednesday, amid the expectation of the U.S. rates hike and stronger U.S. dollars.
Donald Kohn, a former Federal Reserve governor and now a senior fellow at the Brookings Institution, said Tuesday that it was probably that Fed would start raising interest rates in September or December.
Last week, Fed Chair Janet Yellen also stressed during her Congressional testimony that U.S. interest rates will go up later this year if the economy keeps expanding.
The dollar index, which measures the greenback against six major peers, rose 0.28 percent at 97.6 in late trading Wednesday.
The three-month unofficial copper price dropped 116 U.S. dollars, or 2.12 percent, to 5,366 U.S. dollars per tonne.
The three-month unofficial aluminium price lost 14 U.S. dollars, or 0.84 percent, to 1,656 U.S. dollars a tonne.
The three-month unofficial lead price lost 37 U.S. dollars, or 2.05 percent, to 1,765 U.S. dollars a tonne.
Besides, the three-month unofficial zinc price lost 50 U.S. dollars, or 2.44 percent, to 1,999 U.S. dollars a tonne.
The three-month unofficial nickel price lost 235 U.S. dollars, or 2.00 percent, to 11,540 U.S. dollars a tonne.
The three-month unofficial tin price lost 650 U.S. dollars, or 4.19 percent, to 14,875 U.S. dollars a tonne. Endit