Tuesday, 12 April 2016

Base Metals Daily Updates by MarketMagnify

Base metals sector yesterday showed some mixed move, having some initial support seeing declining dollar but later on upon concerns over China’s appetite the same slumped. 

At MCX every metal yesterday ended their day posting losses, whereas at LME, copper, nickel and zinc tried showing some tad gains. Yesterday, the Chinese CPI data was released, which was 2.30% against the forecasted 2.40% and previously 2.30%. The PPI data continued its slowdown but the pace was less this time. China’s Premier also mentioned of some positive signs from their economy but the downward pressure still persists.

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