Base Metal 3 month LME Zinc and Tin , other base metal prices dropped. - Mcx Commodity Live Market Watch
Friday, December 2, 2016

Base Metal 3 month LME Zinc and Tin , other base metal prices dropped.


On the first trading day of December, apart from 3 month LME Zinc and Tin  , other base metal prices dropped.
Aluminium
On Thursday by closing, 3 month LME Aluminium traded at $1722 a tonne and price decreased by 0.58 percent as compared to previous day closing suggesting low demand in the market. 
While, the LME 3 month aluminium is expected to trade within a range of $1680.5 and  $ 1786 a tonne.
Copper
While closing on Thursday, 3 month LME copper dropped by 0.58 percent and trading closed at $ 5791 a tonne. 
At present, copper is trading within a range bound of $5401.5 and $ 6045.5 and it has been expected to trade within this range bound in the near term.
Lead
On Wednesday, lead marginally gained by 0.47 percent and by closing the metal traded at $2365 a tonne. However on Thursday, the 3 month LME lead sharply dropped by 2.16 percent along with other base metals and trading closed at $2314 a tonne. 
At present the metal is trading within a range of $ 2131 to $ 2575.5 a tonne.
Zinc
On the 1st trading day of December, LME 3 month Zinc gained by 0.96 percent as compared to the previous month last trading day. 
LME 3 month zinc is expected to trade within a trading range of $2522 and $ 2985 in the near term.  While, the supply deficit of zinc in the long run will positively support the price.
Nickel
On Thursday, Nickel dropped by 0.36 percent and the metal traded at $11210 a tonne . At present, LME 3 month Nickel is trading within a range of $10844 and $11900 a tonne. 
Growing future demand and constraint in supply leading towards the price recovery of Nickel in the near term.
Tin
While by closing on Thursday, 3 month LME tin marginally gained by 0.02 percent and by closing the metal traded at $21055 a tonne. At present, the metal trading within a range of $19850 and $21500. 
The five largest Tin producing countries are China by 35 percent, Russia by 12 percent, Australia by 8 percent, Indonesia by 7 percent and Brazil by 6 percent. Although, the world is not short of tin, yet tin prices are still rising because ore grades are falling and much of what is left will require a progressively higher price to be economically extractable. 
Base Metal 3 month LME Zinc and Tin , other base metal prices dropped. Reviewed by Satar Chaki on 3:42 PM Rating: 5 On the first trading day of December, apart from 3 month LME Zinc and Tin  , other base metal prices dropped. Aluminium On Thursda...

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