AHMEDABAD （Commodity Online）: Industrial Metals ended positive yesterday after the release of Chinese output data. In last trades, Copper and Aluminum futures were unable to climb further highs as markets resorted to sell off from its peak ahead of bottom fishing at lower levels in morning trades today.
Few days back, industrial metals including Zinc, Lead and Aluminum traded in same parity at Rs.100 per kilogram. Among all three metals, Lead sparks as star, which touched new highs nearby 103 in yesterday's trading session. Meanwhile, Zinc and Aluminum seems to be weak as failed to sustain above 100.
Other industrial metals, Copper and Aluminum remained on dull side during last week. These two metals stayed in cold mood amidst highly positive trend in other metals.
The inventory data, released every day at London Metal Exchange （LME） was seen decreasing incessantly, which played key roll to keep down trend constrained in base metals.
“Aluminum and zinc are ready to travel above 100 in coming days. On weekly basis, these metals will close above 100; going ahead I can see momentum till 105 in coming week. I can see nickel futures as best earning opportunity for joining bull rally; price is expected to test 1100 in this week,” said Amrita Mashar, Analyst with Commodity Online.
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