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LME base metals rebound on China move

Xinhua, August 26, 2015 Adjust font size:

The base metals prices on the London Metal Exchange (LME) were mostly up after China's rate cut announcement on Tuesday.

China's central bank cut interest rates and lowered the amount of reserves banks. Base metals steadied after China's stimulating moves.

In the metals, the three-month unofficial copper price was up 51 U.S. dollars, or 1.03 percent, to 5,024 U.S. dollars per tonne.

In other metals, the three-month unofficial aluminium price rose 27 U.S. dollars, or 1.77 percent, to 1,552 U.S. dollars a tonne. The three-month unofficial lead price rose 22.5 U.S. dollars, or 1.36 percent, to 1,679 U.S. dollars a tonne.

Meanwhile, the three-month unofficial zinc price was up 16 U.S. dollars, or 0.93 percent, to 1,743 U.S. dollars a tonne. The three-month unofficial nickel price was up 30 U.S. dollars, or 0.31 percent, to 9,625 U.S. dollars a tonne. The three-month unofficial tin price lost 100 U.S. dollars, or 0.70 percent, to 14,125 U.S. dollars a tonne. Endit