Thursday, 3 March 2016

Base Metals News on Commodity and Mcx Market

Zinc on MCX settled up 1.11% at 122.45 on expectations of tighter supplies due to output cuts and mine closures. Zinc, which is mainly used to galvanise steel, is the best performing LME metal this year, rising 12 percent on forecasts that shortages will develop due to the closure of major mines.

Nickel settled down as prices witnessed selling due to rise in LME inventories and prices again failed to sustain above 600 level despite of expectations of further Chinese stimulus measures after manufacturing data disappointed.

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