LME Base Metals Finish Higher Wednesday
The base metals prices on the London Metal Exchange (LME) finished higher across the board Wednesday.
The base metals sold off heavily Tuesday as the markets became increasingly nervous over China although for the metals fear that the correction in equities in China will spread to the wider economy seems to be the main driving force.
LME the metals closed down an average of 3.4% Tuesday, led by a 7.5% drop on Nickel. Copper closed off 3.1% at 5,567.50, Aluminium was the least affected, it closed down 1.2% at 1,67
Wednesday the base and precious metals bounced and finished overall in the Green on the day,
The 3-month unofficial Copper price increased 244, or 4.64%, to 5,507/tonne.
The 3-month unofficial Aluminium price increased 8.5, or 0.51%, to 1,678/tonne.
The 3-month unofficial Lead price increased 28, or 1.62%, to 1,753/tonne.
The 3-month unofficial Zinc price increased 33, or 1.71%, to 1,967/tonne.
The 3-month unofficial Nickel price increased 175, or 1.65%, to 10,812.5/tonne.
The 3-month unofficial Tin price increased 350, or 2.55%, to 14,050/tonne.
Stay tuned…
HeffX-LTN
Paul Ebeling
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