Base metals may witness sideways movement as investors will eye the US
fed Chairman Testimony in congress later today.
Copper may trade in range of 406-413 while Lead may move in range of 127-129.
Aluminum may move in range of 105-106.50.
Nickel may move in range of 1110-1130 in MCX.
Zinc may move in range of 122-124.50.
Nickel climbed for a second day to trade near a 15-month high on concern that global supplies will be disrupted as tensions between Russia and Ukraine were escalating and Indonesia stopped ore exports.
German Chancellor Angela Merkel and U.S. President Barack Obama have set May 25 as a deadline for Russia, the second-biggest producer of refined nickel, to reject the separatists’ actions and withdraw support or possibly face deeper economic sanctions. Indonesia, the top nickel miner, banned ore exports in January to boost domestic processing.
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Copper may trade in range of 406-413 while Lead may move in range of 127-129.
Aluminum may move in range of 105-106.50.
Nickel may move in range of 1110-1130 in MCX.
Zinc may move in range of 122-124.50.
Nickel climbed for a second day to trade near a 15-month high on concern that global supplies will be disrupted as tensions between Russia and Ukraine were escalating and Indonesia stopped ore exports.
German Chancellor Angela Merkel and U.S. President Barack Obama have set May 25 as a deadline for Russia, the second-biggest producer of refined nickel, to reject the separatists’ actions and withdraw support or possibly face deeper economic sanctions. Indonesia, the top nickel miner, banned ore exports in January to boost domestic processing.
www.punjiniveshonline.com
YOU WANT BEST COMMODITY TIPS THAN CLICK ON LINK & GET FREE TRIAL
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