Base metals prices fluctuate

Base metals prices on the London Metal Exchange (LME) showed volatile trends on the last trading day.

US economic growth rebounds in Q3

Gross domestic product, adjusted for inflation, returned to growth in the US in the third quarter after two consecutive quarterly contractions, according to government data released on Thursday.

In the third quarter, GDP rose 0.6%, the Commerce Department announced, a 2.6% growth y-o-y.

Base metals market performance - 27 October

• LME's three-month copper futures rose 1.3%, nickel remained almost stable, aluminium increased by 1.1%, zinc rose by 0.2% and lead fell by 0.2%.
  
  
• SHFE copper rose 0.63%, aluminium lost 0.4%, lead slid 0.49%, and zinc edged down by 0.04%.
  
  
• On MCX, aluminium was down by 1.4%, nickel increased slightly by 0.4%, lead edged down by 0.1%, copper was almost stable, while zinc increased by 0.4%.
  
  

LME stock levels fluctuate

Aluminium, nickel and lead stocks at LME-registered warehouses increased by up to 2.3% d-o-d in the last session. However, copper and zinc stocks showed a downward trend by up to 3.8% yesterday.

Oil prices rise marginally

Meanwhile, brent oil futures rose 2.5% to $96 per barrel, while crude oil WTI futures were up 0.25% at $88.17 per barrel at the time of reporting.

Currency exchange

The rupee remained at 82.27 paise, close to the 83-mark against the US dollar.

Dollar index

The dollar index, which gauges the value of the dollar in a basket of six different currencies, hovered around 110.48, down marginally by 0.10% against the last session.