Base metals prices on the Shanghai Futures Exchange (SHFE) and London Metal Exchange (LME) witnessed a recovery amid improved market sentiment.
The US dollar index shed to $107.33 at the time of reporting, after touching $110 levels last week, boosting sentiments in the non-ferrous metals market, SteelMint understands.
Base metals market performance-
- LME copper rose over 4%, aluminium added upto 4%, lead climbed nearly 4%, and zinc gained 3.8%.
- SHFE copper rose 3.4%, aluminium up 3.69%, lead climbed 1.64%, and zinc gained 1.79%.
- MCX aluminium was up 2.8%, zinc rose 2.2%, while copper gained 2.4% and lead rose 1.9%, d-o-d. Nickel prices rose nearly 2.4% on the last trading day.
Stock levels almost down
LME warehouse stocks of most base metals fell on a d-o-d basis in the last trading session. While zinc stocks fell by 4.08%, nickel recovered marginally by 0.65%.
Oil prices show recovery d-o-d
Brent oil futures rose 0.4% to $106.34 per barrel and crude oil WTI futures rose 0.14% to $99.58 per barrel at the time of reporting.
INR at record-low, breaches 80-mark
The Indian rupee plunged to a record low, breaching the level of 80 against the US dollar. The domestic currency is expected to remain volatile in the week and could depreciate further.
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