Tuesday, 12 January 2016

Market Base Metals Trading News

Base Metals
Base metals on the LME traded lower yesterday 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.

LME Copper prices plunged by 2.2 percent and fell to six and a half year low on Monday to close at $4387 per tonne as weak inflation numbers is an added drag on Chinese economy along with panic in the domestic equity markets. China's consumer inflation quickened slightly to 1.6 percent year-on-year in December while the producer price index was unchanged at -5.9 percent in December marking a 46th straight month of declines.

MCX copper prices declined by 2.5 percent to close at Rs.293.8 per kg in line with international trends.

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