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LME base metals higher due to equity gains

Xinhua, August 28, 2015 Adjust font size:

The base metals prices on the London Metal Exchange (LME) were up on Thursday, underpinned by a recovery in equities.

U.S. equities enjoyed their biggest rise in four years on Wednesday after strong gross domestic product data was released. The Chinese stock market also closed with gains on Thursday, ending five consecutive days of falls.

In the metals, the three-month unofficial copper price rose 142.5 U.S. dollars, or 2.88 percent, to 5,095 dollars per tonne.

In other metals, the three-month unofficial aluminium price rose 33.5 dollars, or 2.18 percent, to 1,567.5 dollars a tonne. The three-month unofficial lead price rose 27 dollars, or 1.64 percent, to 1,678 dollars a tonne.

Meanwhile, the three-month unofficial zinc price was up 41 dollars, or 2.40 percent, to 1,747 dollars a tonne. The three-month unofficial nickel price was up 450 dollars, or 4.71 percent, to 10,012.5 dollars a tonne. The three-month unofficial tin price was up 50 dollars, or 0.36 percent, to 13,875 dollars a tonne. Endit