LME base metals down after Fed meeting

The base metals prices on the London Metal Exchange (LME) moved lower on Friday, soured by U.S. Central bank's comments of growth concerns.

The Fed decided to leave rates unchanged after a two-day meeting, citing economic and financial developments around the world that "may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term".

The three-month unofficial copper price dropped 136.5 U.S. dollars, or 2.53 percent, to 5,262.5 U.S. dollars per tonne.

The three-month unofficial aluminium price lost 1.5 U.S. dollars, or 0.09 percent, to 1,626 U.S. dollars a tonne. The three-month unofficial lead price lost 26 U.S. dollars, or 1.51 percent, to 1,691 U.S. dollars a tonne.

Meanwhile, the three-month unofficial zinc price lost 43 U.S. dollars, or 2.47 percent, to 1,695 U.S. dollars a tonne. The three-month unofficial nickel price lost 250 U.S. dollars, or 2.49 percent, to 9,787.5 U.S. dollars a tonne. The three-month unofficial tin price lost 412.5 U.S. dollars, or 2.66 percent, to 15,075 U.S. dollars a tonne.