Friday, 12 June 2015

News and Research on Mcx Base Metals

Base metals on the LME except Lead and Zinc traded higher yesterday as investors awaited industrial production data from China that’s forecast to show an improvement in activity from the weakest in more than six years.

Zinc was the biggest loser in the last session with prices declining by 0.8 percent while Nickel gained the most by 1.2 percent.

On the MCX, all the base metals apart from Lead and Zinc rose in line with strength in the international markets.

Copper
LME Copper prices jumped by 1.1 percent on Wednesday to close at $6030/tonne after Beijing doubled the quota allowing its provinces to swap debt for bonds to two trillion yuan, provided support to the metals. Also, weakness in the DX along with decline in LME Stocks by 0.9 percent acted as positive factors.

MCX copper prices surged by 0.8 percent and closed at Rs.388.1/kg on Wednesday.

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