LME base emtals close higher

LME base metals close higher with copper up 0.6 per cent, aluminium gaining 0.2 per cent and tin continuing its strong trade, closing 1.8 per cent higher.

Base metals on the London Metal Exchange (LME) have closed higher after a weaker US dollar helped lift their appeal to buyers holding other currencies.

At the close of open-outcry trading in the LME ring on Friday, three-month copper was 0.6 per cent higher on the day at $US7,150 per metric ton.

Aluminium closed 0.2 per cent higher at $US1,745.50 per ton.

"The base metals look to be ending the week on a stronger footing, with firmer equities and a weaker (US) dollar adding to the general strength," said base metals analysts at Standard Bank.

"Turnover still remains pretty disappointing, with tin the only metal to see decent two-way interest."

Tin closed the week 1.8 per cent higher on the day at $US22,975 per ton, having traded at values not seen for nearly two months.

A ban on ore exports out of Indonesia continued to add to the metal's strength by underscoring risks to global tin supply.


1 min read

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Source: AAP


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