Metals remain lackluster on Monday amidst the global markets including LME and Comex closed for the extended Christmas holidays. Very thin trading was seen in the domestic market at MCX due to the lack of overseas cues. The encouraging data from the US during the weekend such as rise in durable goods and new home sales led the investors to stay in positive territory on Monday. Appreciating rupee curbing huge gains in the metals at domestic bourses.
SHFE Copper future for most active March 2012 contract settled at 55390 yuan per tonne, down 0.14% (80 yuan). Likewise at MCX, Copper for delivery in February remained unchanged at Rs. 407 per kg.
Market participants are awaited for economic data from the US due later this week such as the S&P Case-Shiller house price index for October and consumer confidence for December that may provide cues to the further direction of trade.
The dollar index edged down by 0.11% at 79.93 against the basket of 6 major currencies as the closure of major markets US and Europe for Christmas holidays led to thin trading and remained in lackluster note.
Among other metals in the domestic market at MCX, Nickel for delivery in December tested a high of Rs. 988 per kg and low of Rs. 984.3 per kg in intraday and is now trading at Rs. 986.7 per kg, up 0.13% or Rs. 1.3. Zinc remained unchanged at Rs. 98.2 per kg. MCX lead trading flat at Rs. 105.95 per kg and Aluminium was also trading flat at Rs. 105.7 per kg
