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Base Metals Weekly Report: Motilal Oswal

According to Motilal Oswal, Copper prices corrected last week after rallying for much of 2021, as dollar index rallied above 92 level building some pressure on the metals along with bond yield which briefly surged above 1.6% mark.

March 09, 2021 / 08:46 AM IST

Motilal Oswal's report on Base Metals Weekly


Copper prices corrected last week after rallying for much of 2021, as dollar index rallied above 92 level building some pressure on the metals along with bond yield which briefly surged above 1.6% mark. Copper had been highly volatile with profit taking in equities and copper longs taking some profit from the headed market. Downside however will be protected buoyed by expectations of a faster economic recovery and higher capital inflows into markets after the U.S. Senate passed a long-awaited $1.9-trillion coronavirus stimulus bill.


Outlook


Overall given the change in macro backdrop, mixed trading activity with heightened volatility is likely to persist for the next couple of sessions.


For all commodities report, click here

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first published: Mar 9, 2021 08:46 am

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