Non-ferrous metals prices on the London Metal Exchange (LME) increased on 27 March, 2023.
Three-month aluminum futures contracts rose by 1.1% to $2,363/t, zinc prices rose by 0.7%, lead inched up by 0.4% and nickel increased by 1.6%. Copper futures inched up by 0.5%.
Australia’s retail sales inch up
Data from the Australian Bureau of Statistics (ABS) on Tuesday showed retail sales inching up by 0.2% in February from January, when they picked up a revised 1.8%. Sales of A$35.14 billion ($23.42 billion) took place. It was 6.4% higher than a year earlier.
India
Aluminium scrap prices remained stable even as futures edged up yesterday. Meanwhile, transactions were moderate. However, any price revision by the primary players may impact scrap prices in the near term. Indian copper prices showed mixed trends yesterday. The raw materials market was active. Meanwhile, finished product demand fell since last week. Prices may remain rangebound.
Oil up, natural gas prices inch down
Brent oil futures inched up by 3% to $77.79 per barrel. Crude oil WTI futures inched up by 3% to $72.72 per barrel.
Prices of natural gas were recorded at $2.086/MMBtu at the time of publishing this report, down by 11.59% 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 102.61 at the time of publishing this insight. The index was down 0.25% against the last session.
The rupee was recorded at 82.18 against the US dollar, appreciating 0.22 paise as against the previous closing.
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