Base Metals Daily Market Watch Sept 04, 2015 - Emkay Commotrade

By  Paul Ploumis 04 Sep 2015  Last updated at  04:10:29 GMT 

Commodities

Base Metals: LME metals increased in the first held as risk sentiments improved on speculation that Fed may go for delay in rate hikes on downbeat of US economic data but later on ECB Draghi dovish comment put pressure on Euro against USD. Copper took a breather today but was set to log a second weekly gain, with traders expecting a short-covering rally to gain steam given thin liquidity due to holidays in China. Nickel climbed 2%, Copper 2.5%, Aluminum 1% while lead and zinc stabilized last night. We may see some correction in initial trading but buying can do in specific counters like copper, Nickel as recovered well from six years low. Copper also getting support from supply disturbances as Peruvian mine shut due to strikes. Zinc and lead looks flattish as overvalued counters.

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