Base metals climb

BEIJING- Prices of most base metals ticked up on Wednesday, with support from weak US dollar and tight supplies amid falling inventories and possible production cuts.

Three-month copper on the London Metal Exchange added 0.4 percent to $8,388 a ton.

Among other metals, LME aluminum climbed 0.4 percent at $2,382 a ton, zinc was up 0.3 percent to $3,090.50, lead edged 0.1 percent up to $2,181, and tin gained 0.5 percent to $24,020.

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The dollar index was little changed after slipping lower on Tuesday, as the yen soared to a four-month peak after the Bank of Japan (BOJ) said it would review its yield curve control policy.

A weaker dollar makes the greenback-priced commodity more attractive to non-dollar buyers.

Tight global stocks for metals including copper and aluminum and news of possible production cuts also helped to lift market sentiment.

Bloomberg reported on Tuesday that Russia’s Norisk Nickel, the biggest producer of refined nickel, is considering reducing output by 10 percent next year.

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