Non-ferrous metals prices on all major exchanges were positive in the last trading session on 9 February, 2023. On the other hand, the US dollar marked near 83 again.
Three-month contract prices on the London Metal Exchange (LME) were in a positive terrain. Aluminum prices increased by 0.7%, zinc was down 0.3%, lead up 0.3%, copper edged up 1%, and nickel up 6.4%.
MCX futures prices remained mostly on downtrend. Nickel was down by 0.2% at INR 2,380/kg, lead up at INR 185.40/kg, copper up 0.5% at INR 775.9/kg, aluminum up at INR 219.10/kg, while zinc was down 0.2% to INR 277.6/kg.
Oil prices down
Brent oil futures decreased by 0.83% at $84.13 per barrel, while crude oil WTI futures decreased by 1% to $77.62 per barrel.
Prices of natural gas were recorded at $2.417/MMBtu at the time of publishing this article, up 2% as against the last closing price.
India
India’s aluminium scrap prices remained stable d-o-d yesterday amid limited market activities. A slight discount can be offered on spot transactions of tense scrap in the near term as alloys sales are limited, sources informed.
India’s copper market saw an increase in prices d-o-d yesterday. Prices increased as demand recovered after remaining firm for past few weeks. However, the availability of material was tight in the market.
Dollar index
The dollar index, which gauges the value of the dollar in a basket of six different currencies. It hovered at around 103.29 at the time of publishing this report, up 0.06% as against the last session.
The rupee was recorded at 82.56 against the US dollar, almost stable against the previous closing.
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