Wednesday, 21 January 2015

Base Metals News and Tips for Today

Aluminum closed on a pullback yesterday to settle at $1844 MT, around 1.43% up from its previous close. On the micro side, the fundamentals continue to remain strong for the metal as LME Cash to 3M forward contango further squeezed to $1.75 MT and the inventories also continued to decline by 8100 MT, indicating demand in the near term for the metal. 

Copper traded in pullback yesterday and closed at $5690 MT, up by 0.32% from its previous close. This uptick in the metal could have been supported by the better than expected economic data from China which added support to the prices of the metal.

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