Arab Today, arab today london metal exchange base metals close lower
Last Updated : GMT 23:12:04
Arab Today, arab today
Arab Today, arab today

London Metal Exchange base metals close lower

Arab Today, arab today

Arab Today, arab today London Metal Exchange base metals close lower

London Metal Exchange (LME)
London - XINHUA

The base metal prices on the London Metal Exchange (LME) closed lower on Friday.
The base metals prices fell after U.S. payrolls expanded more than what had forecasted in November, bolstering the case for the Federal Reserve to raise interest rates that may slow economic growth and curb metal demand.
Paul Ashworth, chief U.S. economist of Capital Economics, said the massive 321,000 gain in non-farm payrolls in November, together with the 44,000 upward revision to the two preceding months, bolsters the view that the Fed will begin to hike interest rates as early as March next year.
The U.S. dollar climbed as the positive data from the U.S.. The strengthening U.S. dollars weigh on base metals prices which are dollar-denominated.
The three-month unofficial copper price increased 1 U.S. dollar, or 0.02 percent, to 6,447 U.S. dollars per tonne.
The three-month unofficial aluminium price lost 11 U.S. dollars, or 0.55 percent, to 1,979.5 U.S. dollars a tonne.
The three-month unofficial lead price lost 3 U.S. dollars, or 0.15 percent, to 2,033 U.S. dollars a tonne.
Besides, the three-month unofficial zinc price lost 2.5 U.S. dollars, or 0.11 percent, to 2,239 U.S. dollars a tonne.
The three-month unofficial nickel price lost 112.5 U.S. dollars, or 0.66 percent, to 16,962.5 U.S. dollars a tonne.
The three-month unofficial tin price lost 162.5 U.S. dollars, or 0.80 percent, to 20,237.5 U.S. dollars a tonne.

 

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