Thursday, 25 February 2016

Mcx Market Tips on Base Metals

Base metals surrendered the previous gains in yesterday’s session after the rally in the oil and equity markets looked to reverse as the oil supply glut looked to worsen post the comments from Iran that deal between Saudi and Russia is “Ridiculous. “Zinc slid 2.4 percent to $1,738 a tonne, lead lost 1 percent to $1,710 and nickel was down 1.7 percent at $8,610.

The People's Bank of China (PBOC) set the yuan's midpoint rate at 6.5273 to the dollar before the market opened, down 0.17 percent from the previous fix that has put pressure on the commodity prices further.

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