- Copper prices at LME market rose for a second time on Thursday,weighed by the weakening dollar devoid of the impact of U.S–China trade war.|
- The dollar weakened tracing the pressure from Pound which rose after fears of Britain leaving the European Union with no comprehensive agreement faded.
- Striking workers at Alcoa’s giant west Australian operations are in the anticipation of closing the strike by voting a “NO” on Thursday and prolong the four week old strike, thus bringing in support for the rise in the prices of Aluminium.
- Also, evident from the imposition of tariffs on $50 billion worth goods by the two World’s largest economies and President Donald Trump’s consent that U.S will have further rounds of talk with China to settle the trade war agreement brings concern for the metal prices. Separately, U.S is still in consideration of imposing further tariffs on other $200 billion Chinese imports.
For the day, we recommend buying in Copper, Zinc & Aluminium:whereas range bound trend in Nickel & Lead is expected.
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