Tuesday, March 25, 2008

Base Metals Positive On MCX

Chinese trade data on Monday offered the market some reassurance to Base metals. MCX Copper which closed the trades at Rs 320 per kg is now trading at Rs 321. Supports for the contract are at 313 levels. MCX Aluminium is at Rs 115 after closing the last session at Rs 114 with day’s low of 113, supports for Aluminium would be at 111. Among the other gainer’s was Nickel at Rs 1165 up Rs 14 while Lead was at Rs 111 up Rs 2. Zinc is also trading in green at Rs 94 up Rs 2. Supports for Nickel are at 1131 and 1125 levels while Lead will find supports at 110. The movements will be decided after the LME opens today after Easter holidays.

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