Base metals expected trade on choppy: SMC
Published on Tuesday, March 16th, 2010 at 7:39 PMAuthor: onlinecommoditycalls (1958 Articles)
“Base metals are expected to trade on choppy tracking mixed fundamentals. Copper prices slumped to their lowest levels in two weeks on Monday, weighed down by a combination of U.S. dollar strength and growing concerns that China will take further steps to tighten monetary policy,“ said SMC in a report.
“Investors are keeping a keen eye on production from Chile after a series of supply disruptions in recent weeks in the top copper producing country. Key mines in Chile resumed operations after energy supply returned on Monday following a near country-wide blackout that impacted production for several hours, just two weeks after an earthquake temporarily hit supply. Copper may trade in range of Rs 100-102.Zinc may trade in range of Rs 103.50-104.50 in near term,“ it added
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