Expect base metals to remain under pressure: Nirmal Bang
Published on Fri, Feb 03, 2012 at 11:00 | Source : Moneycontrol.com
Updated at Fri, Feb 03, 2012 at 14:05
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Expect base metals to remain under pressure: Nirmal Bang
Nirmal Bang has come out with its report on base metals. According to the research firm prices are expected to remain under pressure on account of slow Chinese demand and worries about Greece's drawn-out debt deal.
Nirmal Bang has come out with its report on base metals. According to the research firm prices are expected to remain under pressure on account of slow Chinese demand and worries about Greece's drawn-out debt deal.
• Production of all main metals fell in Peru in 2011 from the previous year, the mining ministry said on Thursday, as depleted reserves and lower ore grades hit the major global producer.
• Chelyabinsk Zinc Plant reports 4.3 percent production increase for the 12 months of 2011. In 2011, Chelyabinsk produced 160,001 tonnes of salable zinc and zinc based alloys. Some 60.7 percent of metal was supplied to the domestic market.
• China's ban on large ships is limited to Vale's giant iron ore vessels, shipping sources said on Thursday, clearing up confusion in the maritime community as to whether new government regulations could cover other smaller ships.
Industrial metals are trading lower on International bourses today. We expect prices to bounce back for the day ahead of key U.S. employment data. However, we expect prices to remain under pressure on account of slow Chinese demand and worries about Greece's drawn-out debt deal.
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