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Below are Quote On Base Metals Update - Industrial metals remain under pressure By Mr. Yash Sawant, Research Associate, Angel Broking Ltd.

Industrial metals remain under pressure

The rally in Industrial metals seems to have taken a pause following the bleak demand prospects from top consumer China.

Industrial metal prices surged in the earlier months as optimism over a green revolution and movements towards a low carbon environment raised bets on increase in demand in the times to come.

However, strict energy consumption norms in China and soaring commodity prices hampered China’s industrial sector. Falling premium on imported metal, below expectation PMI figures and trade data amid concerns over further monetary policy tightening by PBOC has put a halt in the rally.

While markets cheered on reopening of major economies; low demand from top metal consuming nation China might remain a considerable headwind for the base metals spectrum in the days ahead.

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