Expect base metals to trade firm: Nirmal Bang
Nirmal Bang has come out with its fundamental outlook on base metals. According to the research firm, industrial metals prices are trading little changed on international bourses. One can expect metals prices to trade firm on account of bargain hunting at lower levels, says the research firm.
June 28, 2013 / 14:10 IST
Nirmal Bang's report on base metals
Industrial metals prices steadied yesterday after declining in the previous session, as worries over China's credit crunch eased and on expectations that the U.S. and EU central banks will not rush to reduce their stimulus programmes.South Korea bought 4,000 tonnes of aluminium for November arrival via tenders closed on Thursday, the state-run Public Procurement Service said on its websiteJapan's steel exporters could benefit from Prime Minister Shinzo Abe's aggressive economic reforms at the expense of U.S. competitors that specialize in the same high-end products.Henry Bath has asked the London Metal Exchange (LME) to delist about of fifth of its warehouses worldwide as it slims down its network, according to sources in the sector.Yukon Zinc announced Thursday it is laying off workers and cutting production at its Wolverine Mine due to falling zinc and silver prices.THE mining subsidiary of Marcventures Holdings Inc. expects to increase shipments of wet metric tons (WMT) of nickel ore in the first half of the year by more than three times the previous year's level.Fundamental outlook: Industrial metals prices are trading little changed on international bourses. We expect metals prices to trade firm on account of bargain hunting at lower levels.Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. 
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