Non-ferrous metals prices remain largely positive

Non-ferrous metals prices reflected positive trends on all major commodities exchanges in the last trading session on 12 January, 2023.

Market performance

Three-month contract prices on the London Metal Exchange (LME) showed an upward trend. Aluminium prices increased by 1.5%, zinc rose by 0.9%, lead increased by 0.3%, copper edged up by 0.7%, and nickel remained almost stable.

SHFE copper added 0.19%, aluminium rose by 0.05%, lead fell by 0.33%, while zinc rose 0.06%.

On the Multi Commodity Exchange (MCX), futures prices showed a mixed trend. Nickel decreased by 5.5% to INR 2,247/kg, lead edged down by 0.1% to INR 188.9/kg, copper remained almost stable at INR 769/kg, aluminium edged up by 0.8% to INR 215.6/kg, and zinc rose 0.6% to INR 282.6/kg.

US CPI December data

The US Consumer Price Index (CPI) for December was released by The US Bureau of Labor Statistics on 12 January.

The CPI for All Urban Consumers declined 0.1% in December on a seasonally adjusted basis after increasing 0.1% in November. Over the last 12 months, the All Items index increased by 6.5% before seasonal adjustment.

Oil prices rise

Brent oil futures rose by 1% to $83.64 per barrel while crude oil WTI futures rose by 0.74% to $78.14 per barrel at the time of publishing this report.

Dollar index

The dollar index, which gauges the value of the dollar in a basket of six different currencies, hovered at 102.35 at the time of publishing this report, up 0.10% against the opening session.

The rupee was recorded at 81.44 against the US dollar, appreciating by 0.23 paise against the previous closing.