Non-ferrous metals prices show mixed trends

Non-ferrous metals prices on the London Metal Exchange (LME) were mixed on 6 April, 2023. Three-month aluminum futures contract remained almost stable at $2,333/t and zinc prices inched down by 0.4% to $2,779/t. Lead edged down by 0.7% to $2,095/t. Meanwhile, nickel inched up by 0.4% to $22,800/t. Copper futures were up 0.2% closing at $8,800/t.

USA's factory productivity in the private non-farm business sector falls

Total factory productivity in the private non-farm business sector inched down by 1.2% in 2022. The 2022 decline in total factor productivity reflects a 2.3% increase in output and a 3.6% increase in the combined inputs of capital and labour. The 2.3% growth of output in 2022 represents a stabilisation of private non-farm business output after the Covid-19 pandemic.

India

India's domestic aluminium scrap prices (of most grades) remained stable d-o-d yesterday. As primary players reduced ingot prices by up to INR 7,250/t ($88/t), no impact of it was seen on local scrap prices. Domestic copper prices increased by up to 0.6% d-o-d yesterday. Domestic sellers were making attempts to increase offers. However, due to bid-offer disparity only moderate trade activity was seen, sources informed.

Oil firm, natural gas prices inch up

Brent oil futures were almost firm at $85.12 per barrel. Crude oil WTI futures were almost stable at $80.7 per barrel.

Prices of natural gas were recorded at $2.011/ MMBtu at the time of publishing this insight, down by 0.7% as against the last closing.

Dollar index

The dollar index, which gauges value of the greenback in a basket of six different currencies, hovered at 101.92. The index was up 0.09% against the last session.

The rupee was recorded at 81.85 against the dollar, almost firm as against the previous closing.