Opening Bell: Base Metals Market Update

  • Base metals prices opened at rangebound levels today. Zinc prices fell nearly 1% in morning trade. Stocks of all base metals were down except copper, which rose by 1.61%, equivalent to 1,900 t.
  • Brent oil was up 0.4% to $121.63 per barrel and crude oil WTI futures rose 0.3% to $119.34 per barrel. Tight oil supply has been aggravated by a drop in exports from Libya and ban on Russian oil over the Ukraine war.

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