Base metals prices on all major exchanges edged down in the last trading session on 27 January, 2023.
Three-month contract prices on the London Metal Exchange (LME) closed mostly on a negative note. Aluminum prices fell by 0.5%, zinc was down 2.1%, lead decreased by 1%, copper edged down by 0.7%, and nickel fell by 1.8%.
SHFE was closed during the Chinese New Year holiday last week, and will resume trading today.
MCX futures prices remained mostly in negitive territory. Nickel was up 2.46% to INR 2,451/kg, lead decreased by 0.44% to INR 187.45/kg, copper fell by 0.31% to INR 783.55/kg, aluminum was down 1.01% to INR 225.25/kg, while zinc decreased by 0.89% to INR 298.85/kg.
Oil prices down
Brent oil futures fell by 1% to $86.32 per barrel, while crude oil WTI futures decreased by 1.5% to $79.46 per barrel, as per latest updates. Oil prices have been compared with the closing price on 26 January.
Dollar index
The dollar index, which gauges the value of the dollar in a basket of six different currencies, hovered at around 101.91 at the time of publishing this report, almost stable against the last session.
The rupee was recorded at 81.71 against the US dollar, depreciating by 0.11 paise against the previous closing.
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