Friday, 22 January 2016

Daily Base Metals Market Trading News

Base Metals
Base metals on the LME traded higher yesterday as dovish comments from European Central Bank President Mario Draghi, who said the bank could launch additional stimulus at its next meeting on March 10 renewed risk appetite.

LME Copper prices rose by 1.1 percent to close at $4408 per tonne as ECB President Mario Draghi took notice of economic risks and hinted towards additional monetary stimulus as early as March. Besides, the PBoC said that it would improve policy coordination to promote economic growth and curb financial risks though it provided no details on steps or timing.

MCX copper prices jumped by 1.5 percent to close at Rs.301.9 per kg in line with international trends.
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