Monday, 18 January 2016

Daily Base Metals Market Trading News

Base Metals
Base metals on the LME traded lower last week as gloom in the Chinese equity markets along with string of weak economic data reinforced fragile prospects for growth and demand in the world's biggest consumer of industrial metals.

Copper
LME Copper prices plunged by 1.9 percent to close at $4331 per tonne as the International Copper Study Group said that copper production capacity will grow 5% annually in the next four years. This comes at a time of weak demand from China, which is currently doomed by stock markets crash and disappointing data.

MCX copper prices declined by 0.9 percent to close at Rs.294.7 per kg in line with international trends.

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