Tuesday, 26 May 2015

Daily Metals News and Update

Base Metals
LME markets were closed yesterday n the eve of Spring Day Holiday. On Friday, all the bases metals on the LME traded lower owing to strength in the DX. Also, persistent Greece concerns continued to bother demand for metals.

LME Copper prices plunged by 1.4 percent on Friday as dollar rebounded following stronger than expected core inflation reading. The 0.3% mom rise in core CPI in May was the strongest gain since January 2013 and was seen as a sign that inflation is finally climbing back to Fed's target.

MCX copper prices rose by 0.8 percent and closed at Rs.399.8/kg on Monday owing to Rupee depreciation.

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