Copper may trade 307-313 range, Lead 114-117 range
Commodity Online | June 03 2016
UPDATED 09:49:18 IST

MCX Mentha Oil likely to move in a range of 931.1-948.7

MCX Cotton under fresh buying; Support seen at 17950

MCX Aluminium may trade between 141.5-143.9 levels

NCDEX Jeera under fresh selling; Resistance seen at 14140

MCX Nickel likely to move in a range of 1040.5-1072.9


Base metals may open on positive note as today US factory order data will give further direction to the prices. Copper may move in the range of 307-313. Lead can hover in the range of 114-117 while zinc can move in the range of 132 -134. Nickel may move in the range of 565-580 in MCX. Aluminum can move in the range of 103-105 in MCX. Zinc prices rose on Thursday to their highest in nearly 10 months as a flurry of buying based on expectations of tight supplies fuelled upward momentum, but analysts expect optimism to fade as demand weakens. Zinc has outperformed other industrial metals so far this year due to forecasts of shortages after mine closures. It is up about four per cent so far this week and 23 per cent this year.

Courtesy: Smc Comtrade