Tuesday, 22 July 2014

Acurate Commodity Base Metals News For Today

Base metals on the LME are trading on a mixed note as rise in risk aversion in the market sentiments owing to geopolitical tensions in Ukraine and Gaza are weighing on prices. While on the other hand, declining inventory to their record lows in case of Zinc and Aluminium is supporting gains. In the Indian markets, base metals traded mixed in line with international trends.

LME Copper prices declined marginally on the back of signs of weak demand after China's imports of refined copper stood at 255,041 tonnes in June, down 8.16 percent from a year ago. Also, concerns related to China’s property sector along with 0.2 percent gain in inventories are exerting downside pressure on prices. On the MCX, copper prices are trading lower by 0.1 percent and touched a low of Rs.424.85/kg till 4:00pm IST.

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