The base metals complex traded higher on the LME on Thursday, with copper and nickel being an exception.
Weakness in the US dollar coupled with positive sentiments in the global markets due to easing concerns with respect to Euro Zone debt crisis provided support to prices yesterday.
However, appreciation in the Indian Rupee resisted sharp gains on the domestic bourses on Thursday.
Zinc
Zinc was the top performer on Thursday, as the metal gained around 1.7 percent on the LME and by 1.5 percent on the MCX.
Dollar weakness acted as a supportive factor for prices. It touched an intra-day high of $1966/tonne and closed at the level of $1954/tonne on Thursday.
Zinc inventories declined more than 0.5 percent to reach the level of 769,350 tonnes on the LME warehouse yesterday.
Courtesy: Angel Commodities
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