Base metals fall

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Prices of most nonferrous metals declined on the London Metal Exchange (LME) on Tuesday, as a firm dollar made the greenback-priced metals more expensive to holders of other currencies.

Three-month copper on the LME fell 0.4 percent to $8,207.50 per metric ton, while the most-traded December copper contract on the Shanghai Futures Exchange rose 0.1 percent to 67,540 yuan ($9,281.04) a ton.

The dollar was steady ahead of US Federal Reserve Chair Jerome Powell’s speech later this week, while China trade data due later in the day will provide a picture of the economic growth recovery in the world’s biggest consumer of metals.

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LME aluminum declined 0.7 percent to $2,272.50 a ton, nickel shed 0.8 percent to $18,300, zinc decreased 0.9 percent to $2,550, lead fell 0.6 percent to $2,168.50, while tin was flat at $24,665.

SHFE nickel lost 0.2 percent to 142,700 yuan a ton, lead fell 0.7 percent to 16,505 yuan, while tin advanced 0.7 percent to 209,000 yuan. – Reuters

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