Non-ferrous metals prices on all major exchanges were negative in the last trading session on 6 February, 2023, as the US dollar marked near 83 again.
Three-month contract prices on the London Metal Exchange (LME) were mostly in negative terrain. Aluminum prices fell by 1.4%, zinc was down 3.4%, lead remained firm, copper edged down by 1.2%, and nickel down by 4.7%.
MCX futures prices remained downtrend. Nickel was down by 3.3% at INR 2382.5/kg, lead increased by 0.5% to INR 184.8/kg, copper remained almost firm at INR 770.30/kg, aluminum was down 0.8% to INR 221.5/kg, while zinc was down 2.5% to INR 277.6/kg.
Japan’s household spending for Dec 2022
Japan’s household spending in December fell by 1.3% from a year earlier for the second consecutive month of decline,
Japanese households of two or more people spent an average of 328,114 yen ($2,500),
India
India’s domestic aluminium scrap prices saw a marginal decline d-o-d yesterday. The global market is not supportive at present. This coupled with a fall in LME aluminium prices (by 2%) in yesterday’s session weighed on domestic prices.
Indian domestic copper market saw a marginal fall in prices d-o-d in last session, amid slight decrease in LME futures, However, the scrap availability in the market remains adequate, meeting current demand, sources informed.
Oil prices rise
Brent oil futures rose by 2.20% at $82.17 per barrel, while crude oil WTI futures increased by 1.40% to $74.84 per barrel.
Prices of natural gas were recorded at $2.486/MMBtu at the time of publishing this article, up 3% as against the last closing price.
Dollar index
The dollar index, which gauges the value of the dollar in a basket of six different currencies, hovered at around 103.45 at the time of publishing this report, down 0.16% as against the last session.
The rupee was recorded at 82.72 against the US dollar, depreciating 0.32 paise against the previous closing.
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