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MCX base metals futures down on global cues

Today, strong rupee is pressure on base metals. All MCX Metals prices declined on futures trading today after speculators trimmed their exposures amid a weak global trend.

At 1:30 PM on the Multi Commodity Exchange (MCX), Aluminium for delivery in January traded lower by 54 paise , or 0.51 per cent, to Rs 107.15 per kg. Zinc for delivery in January traded lower by 64 paise, or 0.52 per cent, to Rs 124.40 per kg. Copper for delivery in January traded lower by Rs 1.98, or 0.44 per cent, to Rs 451 per kg. Nickel for delivery in January traded lower by Rs 2, or 0.24 per cent, to Rs 884 per kg. Lead for delivery in January traded lower by 60 paise, or 0.45 per cent, to Rs 133.75 per kg.

Market analysts said the fall in base metals futures was mostly in tune with a weakening trend at the London Metal Exchange ahead of the outcome of US Federal Reserve’s meeting today¬† and subdued demand at the spot markets.

Reported News Source : PTI Economic Times

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About Narmada Ji

Myself Technical Analyst and Owner Investment Growth Services (100mcxtips.com). 100McxTips is a Market Leader MCX Commodity Advisory, which has a strong hold in offering trusted MCX Tips and accurate as well as Commodity Market Tips. For more mcx, commodity market news by 100McxTips, follow us on Twitter @100mcxtips and on Facebook at facebook.com/100mcxtips.

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