LME base metals pack traded on a negative note yesterday on the back of mixed economic data from the Euro Zone. Further, expectations of decline in US GDP data acted as a negative factor.
However, sharp downside in prices was restricted due to rise in industrial and manufacturing data from UK coupled with weaker DX. Further, decline in LME inventories and upbeat market sentiments also prevented sharp fall in prices of the base metals.
Mcx Base Metals Technical report 07 November