Thursday, 19 March 2015

Base Metal News and Updates

Base Metals
Base metals on the LME traded lower on Wednesday weighed down by economic weakness in top consumer China and expectations the Federal Reserve will prepare the ground for an increase in US interest rates.

Copper
On Wednesday, LME Copper prices declined by 1.5 percent to close at $5713/tonne as Chinese demand has failed to pick up following the country’s Lunar New Year, which took place in February. Since that time, the Chinese housing market has fallen at the fastest rate on record.

MCX copper prices plunged by 2.9 percent and closed at Rs.358.3/kg on Wednesday.

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