Brexit referendum outcome drags LME base metals down
Xinhua, June 25, 2016 Adjust font size:
The base metals prices on the London Metal Exchange (LME) closed lower on Friday, after Britain voted to leave the European Union in a historic referendum.
Britain voted to leave the European Union with 51.9 percent supporting the move, the Electoral Commission said Friday.
British Prime Minister David Cameron said he would step down as prime minister, after referendum results showed on Friday morning that his country voted to leave the EU.
The market concerned that both Britain and EU will suffer from Britain's exit, weighing on the metals prices.
The three-month unofficial copper price dropped 58 U.S. dollars, or 1.22 percent, to 4,713 U.S. dollars per tonne.
The three-month unofficial aluminium price lost 16 U.S. dollars, or 0.98 percent, to 1,618 U.S. dollars a tonne.
The three-month unofficial lead price lost 3 U.S. dollars, or 0.17 percent, to 1,714 U.S. dollars a tonne.
Besides, the three-month unofficial zinc price lost 22 U.S. dollars, or 1.08 percent, to 2,015 U.S. dollars a tonne.
The three-month unofficial nickel price lost 150 U.S. dollars, or 1.63 percent, to 9,037.5 U.S. dollars a tonne.
The three-month unofficial tin price lost 37.5 U.S. dollars, or 0.22 percent, to 17,175 U.S. dollars a tonne. Endit