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LME base metals drops on fund selling

Xinhua, October 22, 2015 Adjust font size:

The base metals prices on the London Metal Exchange (LME) dropped on Wednesday on bearish sentiment and fund selling.

The market was absent of investment interest under pressure from fund selling and worries about oversupply and slowing demand.

In the metals, the three-month unofficial copper price dropped 47.5 U.S. dollars, or 0.91 percent, to 5,167.5 U.S. dollars per tonne.

In other metals, the three-month unofficial aluminium price lost 17.5 U.S. dollars, or 1.14 percent, to 1,521.5 U.S. dollars a tonne. The three-month unofficial lead price lost 57 U.S. dollars, or 3.18 percent, to 1,734 U.S. dollars a tonne.

Meanwhile, the three-month unofficial zinc price lost 52.5 U.S. dollars, or 2.95 percent, to 1,730 U.S. dollars a tonne. The three-month unofficial nickel price lost 97.5 U.S. dollars, or 0.94 percent, to 10,290 U.S. dollars a tonne. The three-month unofficial tin price lost 125 U.S. dollars, or 0.78 percent, to 15,900 U.S. dollars a tonne. Endit