Thursday, 27 November 2014

Base Metals Update in Commodity Market

Base Metals
Base metals on the LME traded on a mixed note yesterday as weak housing and consumer confidence data in the US led to renewed concerns about demand.

Copper
LME copper prices fell by 0.2 percent yesterday amid escalated demand concerns after data showed from the US showed home sales, durable goods orders and consumer sentiments slowed down in the second biggest consumer.

On the MCX, red metal prices gained 0.4 percent despite Rupee appreciation and closed at Rs.405.5/kg on Wednesday.

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