18 AUGUST 2011steelguru
Base metal prices may tumble under pressure
Edited by : AL CIRCLE
1 min read
Commodity reported that Industry metals tumble due to low demand in international market and weak US housing data released in next week.
Base metals drifted by more than 1.5% down in opening trade amid weak global trend. Among all industrial metals, Aluminum future underperformed as prices drop by more than 2%.
Ms Amrita Mashar analyst said that base metals expected to tumble under pressure due to slowing US housing data. In case, Copper rebound above 400 than only metals may recover slightly in today’s evening session.
Base metals drifted by more than 1.5% down in opening trade amid weak global trend. Among all industrial metals, Aluminum future underperformed as prices drop by more than 2%.
Ms Amrita Mashar analyst said that base metals expected to tumble under pressure due to slowing US housing data. In case, Copper rebound above 400 than only metals may recover slightly in today’s evening session.
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