MUMBAI: Base metals may open on positive note as investors will eye the US industrial production data today. Copper may trade in range of 397-405 while Lead may move in range of 123-126. Aluminum may move in range of 107-110. Nickel may move in range of 1070-1100 in MCX. Zinc may move in range of 123-125. Shanghai copper rose to the highest in ten days on Monday, buoyed by prospects of further economic stimulus in China. China will issue foreign direct investment data on Tuesday and house price figures on Wednesday. A slowdown in property inflation is likely to stoke fears about a deepening downturn in the sector and for metals demand.
Courtesy: SMC Comtrade