Wednesday, 4 February 2015

Commodity Market Base Metals News and Tips

Aluminum continued to close on a positive note at $1891, up by around 0.96% from its previous close. Fundamentally, there have been no major changes from the inventories and LME Cash to 3M forward contango side.

Copper jumped its gains and landed at $5690 MT, up by around 3.45% from the previous close. It should be noted that the disappointing economic data across the globe is having a reverse impact upon the market sentiment as the speculation for monetary easing from PBOC is gaining momentum.

Nickel has been one of the best performers amongst the base metals sector lately, however a slight correction was seen in the metal yesterday and closed on a negative note at $15310 MT, down by a mere 0.10% from its previous close.

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