Thursday, 9 April 2015

Base Metals Trading Strategies

Base Metals
Base metals on the LME apart from Copper and Aluminium traded higher on Wednesday as FOMC member were divided over rate hike in June. Also, Fed's policy statement that followed the meeting showed that the FOMC decided to remove the word "patient" as it allows a meeting by meeting review period.

On the MCX, base metals traded higher except Copper and Aluminium in line with international trends.

LME Copper prices plunged by 0.8 percent yesterday as concerns over the FOMC meeting minutes exerted pressure in the earlier part. Also, strength in the DX ahead of meeting minutes acted as a negative factor.

MCX copper prices traded lower by 0.9 percent and closed at Rs.377.2/kg on Wednesday.
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