METALS-Base metals fall after Fed minutes [Reuters]
LYNAS RARE EARTHS S/ADR (LYSDY)
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Source: Reuters
METALS-Base metals fall after Fed minutes SINGAPORE, Aug 22 (Reuters) - Most industrial metals on the London Metal Exchange (LME) slipped on Thursday, after the U.S. Federal Reserve signalled that it was not on a preset path to more monetary policy easing. Interest rate cuts by the Fed could lead to a weaker U.S. currency, which makes dollar-denominated metals cheaper for users of other currencies. Minutes of Fed’s last month meeting showed policymakers were deeply divided over whether to cut interest rates, but were united in wanting to signal they were not on a preset path to more rates cuts. Three-month copper on the London Metal Exchange fell 0.2% to $5,719.50 a tonne by 0206 GMT, aluminium was almost unchanged, nickel decreased 0.5%, zinc dipped 0.5% and lead was 0.9% lower. FUNDAMENTALS * CODELCO: Chile’s Codelco, the world’s top copper producer, said on Wednesday it had shut down its Ventanas smelter along Chile’s central coast for maintenance until Sept. 3, but the shut down w
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