LME Base Metals Prices Finished Mostly Lower Tuesday
The base metals prices on the London Metal Exchange (LME) finished mostly lower Tuesday with the notion that Greece will default on its debts and exit from the Eurozone.
European leaders warned Greeks that Sunday, 5 July vote on the country’s international bailout was a referendum on its membership of the Eurozone, insisting rejection could have disastrous economic consequences.
Utilization rate at China’s major wire and cable producers was 78.48% in June, lower than a year ago, and producers are not optimistic about production in July.
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In the metals
The 3-month unofficial Copper price dropped 55, or 0.95%, to 5,726/tonne.
Nickel dropped to the lowest since April 2009 below 11,000 a tonne, but recovered its lost at the close.
The 3-month unofficial Nickel price was up 85, or 0.72%, to 11,925/tonne.
In other metals
The 3-month unofficial Aluminium price lost 8.25, or 0.49%, to 1,689/tonne.
The 3-month unofficial Lead price lost 17 or 0.96%, to 1,757/tonne.
The 3-month unofficial Zinc price lost 25,, or 1.24%, to 1,991/tonne.
The 3-month unofficial Tin price lost 512.5, or 3.54%, to 13,962.5/tonne.
Stay tuned…
HeffX-LTN
Paul Ebeling
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