Three-month aluminium on the London Metal Exchange CMAL3 was down 1.7% at $2,507.50 per metric ton by 1043 GMT. It reached a eight-week high of $2,554 on Tuesday, up 12% since the start of August
Emkay Global Financial Services has come out with its report on metals sector. According to the research firm, price of steel across the geographies continued to fall during the last fortnight (ending 15th March) as restocking slows and also on renewed concerns of weak demand.
Consultant at Steel Business Briefing Roger Manser sees iron ore prices falling to USD 120-130 dollar per tonne.
Roger Manser, consultant at Steel Business Briefing, tells CNBC-TV18 that he expects the price of coal to trade in a USD 15 per tonne range for the coming months.
Commodities have lost their lustre for leading investment strategists on fears that global economic growth, particularly Chinese demand, may be lower than previously expected.