Why outlook for base metals continues to be neutral in 2024
Copper ended the previous year with a gain of 2% while aluminium and lead prices lost 1% and 4%, respectively. In the meantime, zinc was the worst-performing metal in the group shedding more than 14% in the domestic market and 10% in the overseas market.
Vedanta forms base metals unit
The new subsidiary was incorporated on October 9, and it will have an authorized share capital of ₹100,000 with shares of ₹1 each. Its subscribed capital will also be ₹100,000, with equity shares of ₹1 each.
Base metal demand likely to remain strong. Here’s why
The reopening of China’s economy and better-than-anticipated industrial growth in Europe and the US lifted demand for base metals. A correction in the US dollar also helped stimulate the demand.
Commodity Talk: Base metal prices likely to remain range bound, albeit with positive bias, says Pritam Patnaik of Axis Securities
Globally, copper inventories are diminishing and things are expected to get worse around September this year, as we could witness some uptick in the demand cycle; add to this low and unstable mining supply from Chile and Peru, and the demand-supply balance is completely undone.
Multiple month breakout seen in this base metal; should one go long?
Base metals are trading with mixed directions whereas this metal is standing strong and giving breakouts. This base metal prices are increasing due to a weaker US currency and low inventory and due to the rise in COVID-19 infections with China being the main consumer and a possibility of a cut in global production.
Base Metals: Copper under pressure, further consolidation on cards
Prices also started the new week on a weaker note as fresh COVID-19 curbs in the top consumer, China, clouded demand outlook, while a stronger dollar added to the downbeat mood.
Base metals fall as China's COVID curbs spike demand worries
China stocks fell, as COVID-19 flare-ups added to concerns of a dim economic outlook, amid fears that growth will be sacrificed for ideology-driven policies under President Xi Jinping's new leadership team.
After an eventful week, where are base metals headed?
But, the major reason the base metal markets recovered and gave confidence to investors was optimism about stimulus measures in China. Shanghai announced a 1.8 trillion-yuan investment worth of infrastructure projects, following national policymaker's calls to revive sluggish economic growth.
Base Metals Future Prices
Base Metals Spot Details
0.00.00.00.01411.81783.10.00.00.00.0
