Base Metals Sideways Rang, Copper and Nickel

Base Metals Sideways Rang, Copper and Nickel
  • Save
Neal Bhai Reports ~ Base metals may remain sideways as China markets are closed due to lunar year holidays. Copper maytrade in range of 310-328. Lead may move in range of 117-125. Zinc may move in range of 111 -116. Nickel may move in range of 530-585 in MCX. Aluminum may move in range of 102-107. London copper edged down on Monday after the dollarfirmed following a mixed U.S. jobs report, with the start of a week-long holiday in China draining liquidity from the market. U.S. employment gains slowed more than expected in January as the boost to hiring from unseasonably mild weather faded, but rising wages and an unemployment rate at an eight-year low suggested the labour market recovery remains firm. China’s MMG Ltd flagged last month that its $10 billion new coppermine in Peru was set to ramp up production faster than some analysts had expected, which could weigh on coppermarkets already mired at more than 6~year lows.  ~ Gold Silver Reports

Copper MCX: 310-328 Sideways Range

Nickel MCX:  530-585 Sideways Range

Zinc MCX:  111-116 Sideways Range

Lead MCX:  117-125 Sideways Range

Aluminum MCX:  102-107 Sideways Range

1 thought on “Base Metals Sideways Rang, Copper and Nickel”

Leave a Comment

Share via
Copy link