Base metals prices remain mixed

Base metals prices on all major exchanges showed mixed sentiments in yesterday's closing session due to volatile sentiments in the market.

London Metal Exchange's (LME's) three-months' prices closed on a mixed note. Aluminium rose by 1.0%, zinc dropped by 0.7%, lead increased by 2.4%, copper inched down by 0.3% whereas nickel fell by 0.6%.

Shanghai copper added 0.17%, aluminium fell 0.63%, lead gained 0.78%, zinc advanced 1.29%, and nickel climbed 2.8%.

MCX futures prices remained mixed on the last trading day. Nickel was down by 1.3% at INR 2,547/kg, lead up 3.3% to INR 192/kg, copper was up by 0.6% at INR 724/kg, aluminium up 3.1% to INR 216/kg, and zinc increased by 1.6% to INR 270/kg.

Maruti hikes ADC12 alloy ingots prices by INR 6,500/t m-o-m

Maruti Suzuki India Ltd. recently announced December 2022 settlement prices for aluminium ADC12 alloy ingots. According to SteelMint's sources, the price rose by INR 6,500/t m-o-m to INR 196,000/t.

India
Aluminium tense scrap prices remained supportive in the regional markets specifically north and west as automobile industry is expecting positive trends in the near-term. Meanwhile, copper prices were slightly down in local markets as LME futures of copper was marginally down which reflected in the domestic market. However, demand remained stable.

LME's stock levels remain mixed

Base metals stocks at LME-registered warehouses decreased by up to 7% in the last session today. However, copper was up by 6%.

Oil prices drop slightly

Brent oil futures was down 1.5% at $82.26 per barrel, while crude oil WTI futures remained almost stable at $78.70 per barrel at the time of publishing this report.

Dollar index

The dollar index, which gauges the value of the dollar in a basket of six different currencies, hovered around 103.97 at the time of publishing this report, and was up marginally by 0.15% against the last session.

The rupee was recorded at 82.78 against the US dollar, almost stable against the previous closing.