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“Base metals are expected to trade on choppy tracking mixed fundamentals. Copper can trade in range of 335-345 while nickel can trade in range of 990-1020 in near term. As per the customs data, Russian Nickel exports rose in January 2010 from 2009, both in tonnage and value,“ said SMC in a report.

“The government lifted a 5% export tariff on copper cathodes from February 2009 to help major miner Norilsk Nickel and other producers of the two metals hit by the global economic crisis. Lead can also trade in range of 102.50-103.50. Authorities in southwest China closed a lead plant after people were found with excessive levels of lead in blood,“ it added.

“The closure follows a spate of metal plant shutdowns in several provinces of China last year, when growing public alarm about pollution prompted officials to move against producers of lead who had previously escaped condemnation,“ it said.

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