Base metals prices mixed

Metals prices were mixed on Thursday. Among base metals, zinc was higher as inventories dropped, while lead prices declined and the price of copper remained about the same. London Metal Exchange warehouses saw their zinc inventories drop another 1,750 tonnes, sending the metal’s price 1.5 percent higher to $4,100 per tonne. Lead dropped 1.6 percent to $1,560 per tonne despite the shutdown of a facility in Australia that sent output there down by 28,233 tonnes. Copper traded at $7,450 per tonne even though labor contract negotiations involving the largest unit of the world’s biggest producer, Codelco, have not been successful.

Among precious metals, prices for both gold and silver were higher as the US dollar weakened. The price of gold added 0.8 percent to $595.60 per troy ounce, while silver gained 2.3 percent to $12.14 per troy ounce.