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Wednesday, June 15, 2011

Market Overview

Base metal prices ended largely on the lower side with the exception of lead which ended in green. Concerns about economic recovery, firm dollar and lower imports by China weighed on prices Copper underperformed the entire base metal pack as it ended lower with losses of nearly 2 percent as lower imports by China along with increase in stocks on London Metal Exchange weighed on prices.

Lead prices outperformed the entire base metal pack as incentives in China to boost automobile sales supported prices to move higher Copper and Zinc witnessed build-up of stocks while other metals witnessed draw-downs from London Metal Exchange. Warehouses in China however witnessed net draw-downs for all the three metals i.e., copper, zinc and aluminium

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