Below are Quote On Industrial metal prices picked up in the latter half of yesterday’s trading session By Mr. Yash Sawant, Research Associate, Angel Broking Ltd.
Base metals update
Industrial metal prices picked up in the latter half of yesterday’s trading session as the increase in Yangshan copper premium for the first time in the past couple of months infused optimism of recovery in demand in the world’s largest metal consuming nation, China.
The base metals complex remained under pressure in the earlier weeks on signs of stalling demand from China. The gains came despite of the fact that China’s factory activities eased in April’21 in comparison to the earlier month as rising commodity prices and power consumption norms took a hit on their industrial sector.
Also, retreating US Treasury yield on fading hopes over an interest rate hike any time soon kept a lid on the greenback which further support the Dollar denominated industrial metals.
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