Thursday, 5 March 2015

Commodity Market Base Metal Updates

Aluminum continues to swing between gains and losses and yesterday closed at a positive note at $ 1800 MT, up by 0.45% from its previous close. The metal rose as the economic data of ISM services from US yesterday was positive in turn supporting most of the metals.


Copper at LME also closed on a positive note yesterday gaining around 0.31% and settled at $5840 MT, from its previous close. The metal rose as the cancelled warrants jumped by 11600 MT and backwardation at LME also rose to $21.5 MT, however we expect this to be a flash gain and bearishness in the metal is likely to continue.

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