Friday, 29 May 2015

Daily Metals News and Update

Base Metals
Base metals on the LME apart from Nickel traded higher yesterday as weakness in the DX after Greece expressed confidence this week it will soon seal a cash-for reforms deal provided much needed support. Also, favorable pending home sales data from the US supported gains.

Nickel was the biggest loser yesterday with losses of 0.6 percent while zinc and lead gained the most by 2 percent. 

On the MCX, base metals apart from Copper and Nickel traded on a positive note in line with international trends. 

MCX copper prices fell by 0.4 percent and closed at Rs.392.5/kg on Thursday.

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