Base metals can move in range on mixed path. Investors will eye the US housing starts and building data today.
Copper may trade in range of 411-420
Lead may move in range of 124-126.
Aluminum may move in range of 102.50-105.
Nickel may move in range of 1080-1130 in MCX.
Zinc may move in range of 124-126.
Nickel’s roller-coaster ride this year isn’t over, according to Goldman Sachs Group Inc., which expects the highest prices in two years to prompt expanded capacity for smelting and discourage purchases by steelmakers.
Even as the U.S. and Europe threatened more sanctions after Vladimir Putin’s incursion into Ukraine and the international condemnation that followed, it didn’t put a dent in Russia’s exports of raw materials.
The country exported 51,600 tons of nickel in the first quarter, similar to the same period last year.
www.punjiniveshonline.com
Copper may trade in range of 411-420
Lead may move in range of 124-126.
Aluminum may move in range of 102.50-105.
Nickel may move in range of 1080-1130 in MCX.
Zinc may move in range of 124-126.
Nickel’s roller-coaster ride this year isn’t over, according to Goldman Sachs Group Inc., which expects the highest prices in two years to prompt expanded capacity for smelting and discourage purchases by steelmakers.
Even as the U.S. and Europe threatened more sanctions after Vladimir Putin’s incursion into Ukraine and the international condemnation that followed, it didn’t put a dent in Russia’s exports of raw materials.
The country exported 51,600 tons of nickel in the first quarter, similar to the same period last year.
www.punjiniveshonline.com
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