Non-ferrous metals prices in the London Metal Exchange (LME) rose in the last trading session on 20 March, 2023. The market still has concerns about the banking crisis.
Three-month contract prices of aluminum futures remained stable, zinc prices were down by 0.3%, lead inched up by 1.3% and nickel decreased by 2.4%. Copper futures inched up by 1.4%.
New Zealand’s trade deficit drops marginally y-o-y in Feb’23
New Zealand’s trade deficit narrowed down to NZD 714 million ($445 million) in February, marginally lower compared to NZD 715 million recorded in the same period a year ago, as per data by the Department of Statistics, New Zealand.
India
Domestic aluminium scrap prices moved down d-o-d yesterday even as LME’s three-month futures rebounded. Market participants said that transactions remained low to moderate and there is slight selling pressure owing to weak global sentiments. Indian copper prices have dropped d-o-d owing to volatile global sentiments. As a result, there was slight selling pressure for finished products and buyers have also halted regular procurement activity, informed traders.
Oil prices inch down
Brent oil futures remained almost stable at $73 per barrel. Crude oil WTI futures inched down by 0.88% to $66.9 per barrel.
Prices of natural gas were recorded at $2.244/MMBtu at the time of publishing this insight, down by 8% 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 103.39 at the time of publishing this insight. The index inched up by 0.11% against the last session.
The rupee was recorded at 82.65 against the US dollar, depreciating 0.20 paise as against the previous closing.
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