Metals In Mixed Mode On Monday

The weakness of Dollar all through last week underpinned the non ferrous metals space with all round buying in riskier asset classes. On Monday, Dollar was flat at four month low at 1.313 against the Euro.

LME Aluminium was trading at $ 2178 per tonne, up $ 3 per tonne from last night. MCX Aluminium ended at Rs 117 per kg. Support for the contract is at Rs 114 per kg.

Meanwhile, Nickel was trading at $ 17692 per tonne, up $ 142 per tonne on Tuesday. Trading fraternity is concerned that the rise in prices will again make Nickel Pig Iron attractive in China.


In another news, Japans industrial production declined 1% in July compared to June this year, as per the data from the Ministry of Economy, Trade and Industry.

LME Copper three month forward was seen trading at $ 8328 per tonne, as against $ 8402 per tonne on Friday. MCX Copper is expected to open slightly down from last week close of Rs 456.7 per kg. The prices gained by 0.9% in last week. Via

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