Mumbai, 09 May (CommoditiesControl): In the base metal market, MCX Zinc slips by 0.97%, trading at 255.70, while MCX Copper follows suit with a 0.33% decline, currently at 852. Conversely, Lead records a moderate 0.13% decrease, trading at 193.25. However, Aluminum bucks the trend, up by 0.28% at 233, attributed to a gap-up opening in the early morning.
The downturn in base metals is attributed to the prevailing strength of the dollar. Nonetheless, losses remain minimal, buoyed by China's positive trade data and measures to support its property market. China's exports and imports rebounded in April, indicating a promising uptick in domestic and overseas demand, bolstering the country's economic recovery.
In London Metal Exchange (LME), Copper sees a 0.35% decline at $9869, while Aluminum enjoys a 0.33% rise, reaching $2557.5. Zinc experiences a 1.14% dip, settling at 2877, while Tin edges up by 0.41% to $32270. Lead decreases by 0.33% to $2221.5, and Nickel sees a 0.72% drop, settling at 18765.
In the Shanghai Futures Exchange (SHFE), the June Copper contract dips by 0.67% to 79630 yuan, while Aluminum climbs by 0.54% to 20600 yuan. Zinc and Nickel both witness a 0.54% decline, trading at 23185 yuan and 141770 yuan, respectively. Tin slips by 0.58% to 259320 yuan, while Lead gains 0.95%, reaching 18065 yuan.
(By Commoditiescontrol Bureau; +91-9820130172)
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