Wednesday, 14 January 2015

Daily Base Metals Market News

Base Metals
Base metals on the LME traded negative on Tuesday on plunging oil prices and concerns on demand from top consumer China as the country moves to raise output.

LME Copper prices plunged by 4.3 percent on Tuesday to its weakest level in more than five years as oil price declines spurred selling by hedge funds in China, despite signs of physical demand for metal there.

On the MCX, copper prices slumped by 3.2 percent and closed at Rs.365/kg on Tuesday.
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