By Nirmal Bang
MARKET ROUNDUP
- Industrial metals witness downside in last trading session on the back of rising stockpile and rebound in dollar which induced the speculation of lower demand for metals.
IN FOCUS
- Japanese smelters expect tough negotiations on 2010 copper processing fees as they face increased competition from refineries in China and tight global ore supplies, the country's refining industry body chief said.
- The European markets fell sharply on Thursday, as banking stocks tumbled amid worries about debt problem at the Dubai World and commodity stocks slipped after crude oil and metals prices dropped.
- Japan’s shipments of aluminum rolled products dropped at the slowest pace in a year in October as an economic recovery improved demand for the metal from the auto and electronics industries.
FUNDAMENTAL OUTLOOK
- Industrial metals edged lower in the last trading session on profit taking and fundamental weakness. We expect more profit taking today. We recommend sell on every rise.
