Tuesday, 10 February 2015

Base Metals Prices & Analysis in Commodity Market

Copper was the best performer yesterday, gaining around 0.41% and settled at $5673 MT. While the Trade Balance data from China indicated slump in the imports by around 19%, depicting low demand, Copper continued to gain may be due to the rate cut by PBOC and the expectation of fresh stimulus owing to the depleting macro data from China.

Nickel was the worst performer yesterday declining by around 0.53% to settle at $15155 MT from its previous Though we maintain our broad optimistic view in the commodity over short-term mainly the seasonal weather changes in Philippine provide support to the metal, some bearishness in the very near term appears to be imminent as the economic data across the globe is slashing downwards.

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