Arab Today, arab today lme base metals close higher as market expects ecbs action
Last Updated : GMT 08:51:19
Arab Today, arab today
Arab Today, arab today

LME base metals close higher as market expects ECB's action

Arab Today, arab today

Arab Today, arab today LME base metals close higher as market expects ECB's action

European Central Bank
London - XINHUA

The base metal prices on the London Metal Exchange (LME) closed higher on Friday as weak Eurozone economic data made market expected too much from the European Central Bank (ECB).
Eurozone inflation slowed in August and the region's unemployment rate remained close to a record, increasing pressure on the European Central Bank to take action to kindle the bloc's faltering recovery.
The eurozone's annual inflation rate dropped to 0.3 percent in August, from 0.4 percent in July, according to a flash estimate issued by Eurostat, the statistical office of the European Union, on Friday.
Besides, the eurozone's seasonally-adjusted unemployment rate was 11.5 percent in July, stable compared with June, according to figures released by Eurostat.
The three-month unofficial copper price increased 36.5 U.S. dollars, or 0.53 percent, to 6,969 U.S. dollars per tonne.
The three-month unofficial aluminium price increased 28.5 U.S. dollars, or 1.37 percent, to 2,104 U.S. dollars a tonne.
The three-month unofficial lead price lost 1.5 U.S. dollars, or 0.07 percent, to 2,245 U.S. dollars a tonne.
Besides, the three-month unofficial zinc price increased 14 U.S. dollars, or 0.60 percent, to 2,354 U.S. dollars a tonne.
The three-month unofficial nickel price lost 50 U.S. dollars, or 0.27 percent, to 18,625 U.S. dollars a tonne.
The three-month unofficial tin price increased 25 U.S. dollars, or 0.11 percent, to 21,800 U.S. dollars a tonne.

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