Monday, 14 March 2016

Base Metals Prices News and Research

Copper on MCX settled up 0.48% at 334.5 as funds reversed bets on lower prices ahead of economic data from top consumer China, but a stronger dollar capped gains. Many traders and funds, which last week and earlier in the week sold copper, are buying it back ahead of industrial output and investment data over the weekend from China, which accounts for nearly half of global demand estimated at 22 million tonnes.

Nickel on MCX settled down -0.74% at 588.7 as pressure seen on prospects for slower demand from China. Earlier in the week there are reports that Nickel ore producers in the Philippines have agreed to slash output and shipments this year by as much as 20 percent, responding to a slide in the price of the metal to its lowest in over a decade on weak Chinese demand.

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