Non-ferrous metals prices on all major exchanges remained negative in the last trading session on 6 March, 2023.
Three-month contract prices on the London Metal Exchange (LME) witnessed downward movement in the last session. Aluminum prices inched down by 1%, zinc fell by 1.5% and lead was down by 0.1%, while copper inched down by 0.7% and nickel was down by 0.7%.
India
Aluminium scrap prices in India remained unchanged on 6 March. Market sources expect that primary players kept prices unchanged owing to fluctuations in the exchange market and may soon announce cuts.
Copper armature scrap and rods prices in Delhi were negative in the last trading day. Sellers are cautious due to price volatility and have adopted a wait-and-watch approach, although there are no concerns about scrap availability at the moment.
Oil prices inch up
Brent oil futures inched up by 0.21% to $86.4 per barrel. Crude oil WTI futures inched up by 1% to $80.69 per barrel.
Prices of natural gas were recorded at $2.522/MMBtu at the time of publishing this insight. Prices of natural gas dropped by 16% as against the last closing.
Dollar index
The dollar index, which gauges the value of the dollar in a basket of six different currencies, hovered at 104.49 at the time of publishing this insight. The index inched down by 0.03% against the last session.
The rupee was recorded at 81.78 against the US dollar, almost firm as against the previous closing.
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