Tuesday, 16 February 2016

Mcx Market Tips on Base Metals

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Copper settled up 1.22% at 310.25 rallied on hopes that China would unleash fresh easing measures to kickstart its economy after January trade was dragged down by faltering growth in global markets. Copper on the London Metal Exchange had climbed 0.7 percent to $4,591 a tonne adding to a 1.4 percent advance in the previous session. Meanwhile China's economy faces great challenges and new uncertainties brought about by the global economic environment and various countries' ailing stock markets, Premier Li Keqiang said on Monday. 


Nickel settled up 5.67% at 564.40 gained tracking LME nickel prices which rallied 3 percent, having tumbled more than 4 percent last week. As Shanghai Futures Exchange markets reopened, metal played catch up with London's losses, while ShFE nickel slumped almost 7 percent, before both metals cut losses.


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