Tuesday, 27 January 2015

Latest Update on Base Metals

Aluminium commodity advanced yesterday advancing 2.6% to $1880 per MT mark at LME as Chinese cues over boost for infrastructure investment and largely sliding inventory numbers for the commodity supporting. LME Warehouse stocks for Al fell another day to move closer towards the 4 Mln MT mark, its lowest since 2009.

Copper at LME 3M forward contract too gained with the metal rising over 1% to $5580 /MT. Nevertheless, note that Cu was the least gainer and that could be due to metals oversupply situation expectations, rising inventory scenario and broadly subdued demand expectations, mainly from China.

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