Thursday, September 11, 2014
Commodity Free Tips : Copper, Nickel, Aluminium
In base metal updates on Multi Commodity Exchange (MCX), top three trading metals in the week pointed to Copper, Aluminum and Nickel. Global markets indicated positive outlook for Copper futures which added 0.13 percent to copper futures raising their trading amount to Rs 423.25 for a kg of copper.
Hidden and most important reason which improved position of copper in the market is increasing domestic demand in on-spot market trading as its applicability rose with expansion in industries.
In international markets, copper with delivery dated three months ahead moved 0.6 percent up trading at USD 6,879 in London metal exchange. Further surge in the prices of commodity is citing as it is a starting point to a growth cycle of prices.
Aluminum futures rose 0.16 percent trading at Rs 126.30 for a kg of commodity with delivery marked in future. Traders positioned themselves at a stronger mark as a further growth in the market is coming, with analytical charts showing a growth trend.
The main reasoned behind growing aluminum futures is highlighting firm positioning of other base metals, especially copper which influenced pricing of aluminum.
Nickel expanded 0.17 percent in the trading day today bringing its rate to Rs 1,151.50 per kg in future positions. Market speculators are spotting expansion in prices with support from rising demands because of its rising need in making alloys.
Global market, specifically London Metal Exchange is hiking the prices of Nickel in a similar fashion.