Nirmal Bang presents reports on base metals

Nirmal Bang has come out with its report on base metals. According to the research firm, further rise is expected in the prices of industrial metals as China announces another round of stimulus package.

Industrial metals prices fell on Friday, largely tracking a volatile euro versus the dollar, but cut its losses later in the day on hopes that European policymakers were perhaps gaining an upper hand in containing the region's longstanding debt problem.

Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 1.8 percent from last Friday, the exchange said on Friday.

The positive long-term outlook for copper remains intact, Rio Tinto copper division chief Andrew Harding said on Friday.

China's nickel metal and alloy imports rebounded to 13,672 tonnes in July, according to Chinese customs data. This represented a 39.1% month-on-month increase but a 28% year-on-year decline. The July import increase was mainly because traders were attracted to profits from location arbitrage, using the price gap between domestic and global nickel prices.

Russia's United Company RUSAL Plc the world's top aluminium producer, reported sharply lower profits for the second quarter on Monday, battered by high inventories and low prices, and trimmed its outlook for global aluminium consumption.

Rio Tinto Alcan has declined to set an indicative price in quarterly premium talks due to kick off next week with Japanese buyers of primary aluminium, and will instead negotiate individual deals, two sources involved in the talks said.