Base metals contracts on LME extended their rally as curbs on metal industries by China sustained metal prices at higher levels. Three-month aluminium contract was up 0.8% at $2,110 per TN, while zinc was up 0.6% at $3,138 per tn.A weak dollar index also lifted prices of base metals as it makes purchase
of dollar-denominated base metals cheaper for holders of other currencies. The three-month zinc contract on LME was at a multi-year high as it gained
over 7.4% in the last four trading sessions following rising steel prices in
China, and fall in production in July. Aluminium prices also rose 3% over the last three trading sessions following closure of illegal capacities in China
Source: Newswire
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