MUMBAI (Commodity Online): Investor's positive mood may continue amid climb in China leading index indicating growth in its economy expansion coupled with renewed hopes on U.S. debt ceiling and strong U.S. housing data, which may lift up the base metals in the opening trade on Wednesday. Base metals traded significantly higher yesterday after President Barack Obama suggested that progress was being made toward a $3.75 trillion deficit reduction deal centered around entitlement reform and hopes on new deal for Greece. Commerce Department reported that housing starts in the U.S. jumped more than forecast in June as work began on 629,000 houses at an annual pace, up 15 percent from May and the highest level in five months. The euro firmed against dollar amid the expectations on Germany and the European Central Bank, will come to terms on a new deal for Greece. Dollar ended the session at 75.145 against the basket of six currencies, down 0.29%. At MCX, Copper for delivery in August esteemed by 1.17% or Rs 5.1 at Rs 440.45 per kg where as Aluminium strengthened by 1.8% Rs 2 at Rs 112.45 per kg. Lead rose by 0.99% or Rs 1.2 at Rs 122.7 per kg. MCX Zinc appreciated by 2.53% or Rs 2.7, at Rs 109.6 per kg and Nickel rose by 0.93% or Rs 9.9, to settle at Rs 1073.4 per kg. At Comex, the Copper futures for most active September contract settled higher by 0.07 cent or 1.48% at $4.468 a pound last night. Three-month-delivery copper on LME ended higher by $85 or 0.88%, at $9779.5 a metric ton. Copper inventories on the LME warehouse rose by 4450 tonnes at 467400 tonnes. Lead ended higher by 0.9% to $2763 a ton and nickel rose by 0.86% to $24,025 a ton. Aluminum ended higher by 1.54% at $2,513 a ton, and zinc rose by 1.77% to end at $2,473 a ton.

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