Base metals prices rise on dovish Federal Reserve minutes

0 Comment(s)Print E-mail Xinhua, October 10, 2014
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The base metal prices on the London Metal Exchange (LME) closed higher on Thursday, as the U.S. dollar's decline enhanced the appeal of industrial metals as alternative investments.

The U.S. Federal Reserve maintained a pledge to keep interest rates near their record low for a "considerable time," minutes of last month's monetary policy meeting showed Wednesday.

The three-month unofficial copper price increased 96 U.S. dollars, or 1.45 percent, to 6,737 U.S. dollars per tonne.

The three-month unofficial aluminium price increased 26 U.S. dollars, or 1.35 percent, to 1,958 U.S. dollars a tonne.

The three-month unofficial lead price increased 20.5 U.S. dollars, or 0.99 percent, to 2,100 U.S. dollars a tonne.

Besides, the three-month unofficial zinc price increased 20 U.S. dollars, or 0.86 percent, to 2,343 U.S. dollars a tonne.

The three-month unofficial nickel price increased 150 U.S. dollars, or 0.90 percent, to 16,725 U.S. dollars a tonne.

The three-month unofficial tin price lost 25 U.S. dollars, or 0.12 percent, to 20,250 U.S. dollars a tonne. Endit

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