Tuesday, June 25, 2013

RAPIDLY RETURNED TO COMMODITY BASE METALS TODAY

In China, fear of recession in the world's commodity markets has created tremendous turmoil. Because of high demand for industrial commodities and base metals in particular has quite a stir. The bad news came from China has had a major impact on commodity markets. MCX Metals are seeing sharp decline today. Despite the weakness in the rupee all metals including copper on MCX fell by more than one percent cent. However, MCX is seeing a recovery in metals now.

After nearly 2 per cent in early trade in the domestic market, all metals including copper have excellent recovery. MCX Copper is gained. Recovery is also seen in other metals. London Metal Exchange has been shopping at lower levels. Although copper prices are still close to the lower levels is around 3 years. The deteriorating health of China's economy fears of a sharp decline in industrial commodity and so is vulnerable to the entire base metals pack.

MCX Copper is currently trading around Rs 402.90 with a gain of 0.17%. Nickel gained 0.7 percent and 0.1% percent zinc. Although aluminum in 0.27% and 0.26 per cent lead is seeing.

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