Non-ferrous metals prices saw positive trends on all major commodities exchanges in the last trading session.
Market performance
Three-month contract prices on the London Metal Exchange (LME) showed an upward trend. Aluminium prices increased by 1.8%, zinc rose by 2.8%, lead increased by 2.4%, copper remained almost stable, and nickel down by 0.8%.
SHFE copper lost 0.12%, aluminium rose 1.36%, lead grew 0.79%, and zinc jumped 0.6%.
On the Multi Commodity Exchange (MCX), futures prices showed a mixed trend. Nickel increased by 4.2% to INR 2,340/kg, lead edged up by 0.8% to INR 188.9/kg, copper remained almost stable at INR 772/kg, aluminium edged up by 1.6% to INR 219/kg, and zinc rose 2.1% to INR 288/kg.
Japan’s CGPI rises in December
The 10.2% y-o-y rise in the corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, exceeded a median market forecast for a 9.5% gain, Bank of Japan data showed. It followed a revised 9.7% increase in November, 2022.
Oil prices rise
Brent oil futures rose by 0.69% to $84.69 per barrel while crude oil WTI futures rose by 1% to $79.43 per barrel at the time of publishing this report.
Dollar index
The dollar index, which gauges the value of the dollar in a basket of six different currencies, hovered at 101.94 at the time of publishing this report, down 0.30% against the opening session.
The rupee was recorded at 81.44 against the US dollar, appreciating by 0.10 paise against the previous closing.
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