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| Commodity News |
| HeadLine : |
Base metals tumble as virus-related curbs deepen slowdown fears |
| Date : |
Mar 23 2020 |
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Benchmark three-month copper on the London Metal Exchange (LME) was down 6.3% at $4,509 a tonne , while the May contract on the Shanghai Futures Exchange (ShFE) declined 4.6% to 36,610 yuan ($5,169.52) a tonne. More countries are locking down cities, telling businesses to shut down, and imposing tighter restrictions on transportation to curb the transmission of the virus that has killed over 12,000 people and infected nearly 300,000 globally. LME aluminium fell 2.2% to $1,547 a tonne, nickel declined 0.5% to $11,170 a tonne, zinc decreased 2% to $1,812 a tonne, lead was down 2.7% to $1,615 a tonne and tin tumbled 6.5% to $13,040 a tonne. ShFE nickel declined 3.1% to 91,940 yuan a tonne, zinc fell 2.1% to 14,585 a tonne, tin was down 2.4% to 107,080 yuan a tonne, while the aluminium May contract dropped 5.4% to 11,320 yuan a tonne.
Source : Reuters
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