Base Metals

Base metals on the LME traded higher yesterday as reports of Chinese infrastructure spending raised risk appetite in the global markets and supported the base metals.

Also, investors were at bay ahead of Chinese national holiday and crucial data from the US and China. ...

Base Metals

Base metals on the LME apart from Zinc traded lower yesterday as rising costs and falling product prices pushed profits earned by Chinese industrial companies lower to decline at the sharpest rate in four years in August.

Also, investors were at bay ahead of Chinese national holiday and crucial data from the US and China. ...

Base Metals

Base metals on the LME apart from Nickel traded lower last week as Chinese flash estimate of its Purchasing Managers’ Index fell to the lowest reading since March 2009, the low point of the global recession that followed the collapse of Lehman Brothers.

Asian Development Bank cut its growth forecasts for China, and said ebbing consumption of raw materials in the nation would hurt commodity-focused exporters like Mongolia and Indonesia. ...

Base Metals

Base metals on the LME traded mixed yesterday as Chinese flash estimate of its Purchasing Managers’ Index fell to 47.0 in September from 47.3 in August. That’s the lowest reading since March 2009, at the low point of the global recession that followed the collapse of Lehman Brothers.

While on the other hand, weakness in the DX acted as a positive factor. ...

Base Metals

Base metals on the LME traded lower yesterday as Asian Development Bank cut its growth forecasts for China, and said ebbing consumption of raw materials in the nation would hurt commodity-focused exporters like Mongolia and Indonesia.

Also, strength in the DX along with negative market sentiments acted as negative factors. ...

Base Metals

Base metals on the LME traded mixed yesterday as concerns over the health of the global economy kept investors at bay.

While on the other hand, strength in the DX along with falling sales of previously owned U.S. homes more than forecast in August, represented a pause in momentum this year for residential real estate restricted sharp upside. ...

Base Metals

Base metals on the LME traded lower last week yesterday as investors remained cautious ahead of US rate hike decision.

However, weakness in the DX restricted sharp downside.

On the MCX, all the base metal prices traded lower in line with international trends. ...

Base Metals

Base metals on the LME traded mixed yesterday as investors remained cautious aged of US rate hike decision.

While on the other hand, weakness in the DX supported gains.

On the MCX, all the base metal prices traded mixed in line with international trends. ...

Base Metals

Base metals on the LME apart from Zinc traded higher yesterday owing to prospects of delay in US rate hike given the current uncertain global scenario supported the metals pack.

However, sharp gains were capped as Chinese equity markets continue their downside along with strength in the DX. ...

Base Metals

Base metals on the LME traded lower yesterday as disappointing data from China stirred up concerns regarding serious weakness in the world’s biggest consumer. Industrial output and fixed asset investment data for August came in below consensus, reviving concerns about possibility China could fail to achieve a 7 percent growth target this year. Also, strength in the DX along with risk aversion in the global market sentiments acted as negative factors.

On the MCX, all the base metal prices traded negative in line with international trends. ...

Base Metals

Base metals on the LME apart from Lead traded positive last week as mixed employment reports from the US have raised uncertainty regarding decision of the Federal Reserve regarding rate hike. Also, Chinese shares gained thereby propping up the risk appetite in the global markets.

On the MCX, all the base metal prices traded positive in line with international trends. ...

Base Metals

Base metals on the LME traded positive yesterday as dollar index weakened by around 0.6 percent on Thursday. Besides, bargain hunting at lower levels also acted as a positive factor.

On the contrary, mixed employment reports from the US have raised uncertainty regarding decision of the Federal Reserve regarding rate hike. ...

Base Metals

Base metals on the LME traded on a mixed note yesterday as mixed employment reports from the US have raised uncertainty regarding decision of the Federal Reserve regarding rate hike. However, assurance by the China’s Ministry of Finance restricted sharp fall.

On the MCX, all the base metal prices traded mixed in line with international trends. ...

Base Metals

Base metals on the LME traded higher yesterday as Chinese shares gained nearly 3 per cent on Tuesday thereby propping up the risk appetite in the global markets.

Also, weakness in the DX along with favorable Chinese imports data supported gains in the pack. ...

Base Metals

Base metals on the LME traded mixed yesterday following the return of China to the market after an extended holiday weekend. Also, volatility was low as US markets were closed for Labor Day.

On the MCX, all the base metal prices traded mixed in line with international trends. ...

Base Metals

Base metals on the LME apart from Aluminum traded lower last week as activity in China’s manufacturing sector contracted at its fastest pace in three years, instigating fears about a China slowdown that have roiled global markets.

However, sharp losses were cushioned as short sellers covered their positions ahead of a 2 day Chinese Victory day holiday. Also, global markets rallied after statement by Mario Draghi that asset purchases “are intended to run until the end of September 2016, or beyond, if necessary,” indicated that the bank could extend its more than €1 trillion ($1.1 trillion) bond-purchase program beyond its targeted end date of September 2016. ...

Base Metals

Base metals on the LME apart from Lead and Zinc traded higher yesterday as global markets rallied after statement by Mario Draghi that asset purchases “are intended to run until the end of September 2016, or beyond, if necessary,” indicated that the bank could extend its more than €1 trillion ($1.1 trillion) bond-purchase program beyond its targeted end date of September 2016. Also, short covering ahead of Chinese Victory day holiday supported gains.

Nickel prices gained as Indonesia reinstated that it will keep its export ban on nickel ore, contrary to recent media reports suggesting the country may relax curbs to prop up its slowing economy. ...

Base Metals

Base metals on the LME apart from Lead traded higher yesterday as Chinese markets recovered and US markets rebounded thereby raising the risk appetite.

However, strength in the DX restricted sharp gains in prices.

On the MCX, all the base metal prices traded mixed on Wednesday. ...

Base Metals

Base metals on the LME traded lower yesterday as activity in China’s manufacturing sector contracted at its fastest pace in three years, instigating fears about a China slowdown that have roiled global markets.

However, weakness in the DX restricted sharp fall in prices. ...

Base Metals

LME markets were closed yesterday as UK markets remained shut due to Summer Bank holiday.

On the MCX, all the base metal prices apart from Copper traded higher owing to Rupee depreciation. ...

Base Metals

Base metals on the LME traded higher yesterday as renewed optimism for the demand outlook after US economic growth last quarter exceeded all forecasts pushed prices to their biggest rally in more than two years. Also, sharp rebound in Shanghai and Shenzhen equity markets by 5.3 and 5.9 percent respectively snapped a five-day losing streak. ...

Base Metals

Base metals on the LME traded lower yesterday as global investors still remain cautious about the prospects for China despite Tuesday’s attempt by the country’s central bank to stimulate the economy of the world’s biggest buyer of metals. Also, strength in the DX acted as a negative factor. ...

Base Metals

Base metals on the LME traded higher yesterday as Beijing cut interest rates and lowered bank reserve requirements to support the domestic economy. The moves came after stocks around the world tumbled Monday on escalating fears about a slowdown in China’s economic growth.

On the MCX, all the base metal prices except Nickel and Lead traded higher in line with trend in international markets. ...

Base Metals

Base metals on the LME traded lower yesterday as the Shanghai Composite Index plunged more than 8 per cent, bringing its losses since a mid-June peak to about 37 per cent. This sparked a sell off rout in the global markets, sending the investors in to panic mode.

Nickel was the biggest loser and slumped nearly 10 per cent to $US9215, its lowest since August 12 before ending 6.5 percent lower owing to expectations of weak demand from Chinese stainless steel mills and high inventories. ...