Domestic base metals prices saw volatile trends on the last trading day. Prics of aluminum and nickel moved up by up to 2.6% d-o-d supported by declining stocks at LME-registered warehouses. However, copper was almost stable while lead showed a negative trend, falling by 2.5%. Zinc remained range bound with its stocks remaining almost stable d-o-d.
Base metals market performance – 3 October
- LME’s three-month copper futures remained almost stable, nickel was up 0.7%, aluminium rose 2.6%, zinc down 0.3% and lead down 2.5%.
- MCX aluminium was up 2.9%, nickel decreased by 3.4%, lead edged down by 0.6%, copper remained almost stable, and zinc decreased by 1.1%.
Stock levels mostly down
Most base metals stocks at LME-registered warehouses decreased by up to 1.5% d-o-d in the last session. However, copper stocks increased by 0.4%.
Oil prices rise
Meanwhile, brent oil futures rose 2.34% to $89.39 per barrel, while crude oil WTI futures were up 3% at $83.97 per barrel at the time of reporting.
Currency exchange
The Indian rupee was trading at 81.44, almost stable against the greenback at the time of reporting.
The dollar index, which gauges the value of the dollar in a basket of six different currencies, hovered at around 111.51, down marginally by 0.21% against the last session.
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