China Premier Statements Gives Supports To Metals

After statements of Chinese Premier Wen Jiabao, the calls for metals have increased once again. China Premier said recently that easing inflation gives a chance that the monetary policy can be revised. This indicated that China was in a mood to provide further stimulus to its ailing economy.

In LME, Copper three month forwards were trading positively at $ 7421 per tonne, up $ 31 per tonne. MCX Copper closed Tuesday session at Rs 414.7 per kg, up 0.65%. The MCX exchange was closed on Wednesday for Independence Day. The metal is in a range of Rs 416 and Rs 410 per kg.


LME Aluminium closed at $ 1845 per tonne, down $ 10 per tonne. MCX Aluminium closed at Rs 102.6 per kg. Supports for Aluminium supports are at Rs 100 per kg. On Wednesday, Federal Reserve report showed that report showed that industrial production increased by 0.6% in July compared to economist estimates for an increase of about 0.5%. Via

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