Non-ferrous metals prices on all major exchanges remained positive in the last trading session on 3 March, 2023.
Three-month contract prices on the London Metal Exchange (LME) witnessed an upward movement in the last session. Aluminum prices inched up by 0.3%, zinc rose by 1% and lead was down by 0.3%, while copper inched up by 0.3% and nickel was up by 0.8%.
MCX futures prices opened on a volatile note today. Nickel opened 1% higher at INR 1,929/kg, lead fell by 0.16% to INR 182/kg and copper increased by 0.05% to INR 757/kg. Aluminium inched down by 0.26% to INR 208/kg, while zinc was down 0.34% to INR 267.7/kg.
India
Aluminium scrap prices in India remained unchanged on 3 March. The primary players kept prices stable owing to fluctuations in the exchange market and may soon announce cuts in prices.
Copper armature scrap and rods prices in Delhi were rangebound in the last trading day. Buyers have become cautious due to high prices and have adopted a wait-and-watch approach, although there are no concerns as far as scrap availability is concerned.
Oil prices inch up
Brent oil futures inched up by 0.25% to $85.09 per barrel. Crude oil WTI futures inched up by 0.86% to $79.07 per barrel.
Prices of natural gas were recorded at $2.719/MMBtu at the time of publishing this insight. Prices of natural gas inched down by 1.7% 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, depreciating 0.60 paise as against the previous closing.
Leave a Reply