Thursday, 5 February 2015

Commodity Market Base Metals News and Tips

Aluminum dipped a tad yesterday and closed at $1878 MT, down by around 0.68% from its previous close. The fall in the price levels could be attributed to the rising Dollar index above 94 marks which could have weighed upon selective metals.

Copper had been posting gains backed on the speculation of stimulus to be introduced by PBOC. Yesterday, China announced a 50 basis points rate cut in its RRR, an indirect stimulus to boost the growth in the economy.

Nickel had been the best performer amongst the base metals sector for most part of the week, however lately it has been fading away its gains and had closed on a negative note at $15125 MT, down by around 1.21% from its previous close.
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