Copper's price fall and a higher US dollar index were the main factors in a decline in London Metal Exchange base metals prices for a fourth day on the morning of Thursday June 17, with most down by at least 1%.
The three-month copper contract on the LME was at $9,459.50 per tonne at 9am London time on Thursday, down by 2.1% from its $9,667 per tonne closing price on Wednesday. The contract fell to an intraday low of $9,415 per tonne - the lowest since April 22 - moments after the United States Federal Reserve issued statements regarding the US economy and interest rates. "The Federal Reserve changed its tone on inflation and said...