Thursday, 18 February 2016

Mcx Market Tips on Base Metals

Base Metals
Base metals on the LME traded mixed on Tuesday as Chinese banks armed with fresh lending quotas extended a record 2.51 trillion Yuan of new loans in January suggests that Beijing is keeping monetary policy loose to counter a protracted economic slowdown, supported the pack.

Copper
LME Copper prices fell by 0.1 percent yesterday to close at $4557 per tonne owing to mixed response to the trade balance data. China’s copper imports at 440,000 tonnes in January were down 17 per cent from December but up 5.3 per cent on the year.

MCX copper prices rose by 0.2 percent to close at Rs.311 per kg on Tuesday owing to Rupee depreciation.

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