Friday, 2 January 2015

Base Metals Daily Commodity Market Update

Base Metals
Base metals on the LME traded on a negative note on Wednesday as year-end book squaring prompted investors to book profits. Besides, strength in the dollar index acted as a negative factor for prices.

Copper
Copper was set to end 2014 with a loss of nearly 15 percent, its worst annual decline in three years, on concerns that a supply surplus will hit the market next year just as Chinese economic growth shifts down another gear.

On the MCX, copper prices gained marginally by 0.1 percent and closed at Rs.399.6/kg on Wednesday.

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