AHMEDABAD (Commodity Online): Metals have exhibited a bullish trend thanks to buying sentiment at lower levels after the last week's series of fall in prices. Yesterday, Japanese industrial output rose for the third straight month in January due to firm demand from fast growing Asian markets. In the year 2010, Copper futures climbed to almost 37 percent as mining companies faced short fall of inventories due to continuous rising consumption in rising market. Copper price once again have been driven by the economic optimism in international market. In last three days, Copper recovered after more than 9 percent drop in month of February. First day for March looks bit positive for metals sectors as prices trade firm from morning. On LME, Copper futures climbed for third straight day to monthly gain. Copper three month delivery contract rose by 0.42 percent to 9921 USD a tonne. Since last two days, equity market gains faster due to buoyed demand outlook. Investors in international market switch their investment towards metals and equity as Precious metals become less appealing these days. On the economic data front, manufacturing numbers from major regions like Germany, Euro zone, UK and US are due to be released and the expectation is that manufacturing activity might continue to accelerate. China’s PMI manufacturing numbers came largely in line with expectation indicating moderation in growth. Base metal prices opened slightly lower in Asian market however data later might indicate speeding up in manufacturing activity which support metals price to trade higher side. People are a bit calmer and focusing on the long term prospects. It has been observed that Chinese buyers are still very quite even after long week holidays of Chinese New Year. It might possible that consumers are waiting for the prices to drop due to which traders are withholding supplies because selling imported Copper is a loss making activity at this moment.

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