Non-ferrous metals prices show negative trend

Non-ferrous metals prices on all major exchanges were negative in the last trading session on 3 February, 2023.

Three-month contract prices on the London Metal Exchange (LME) were mostly in negative terrain. Aluminum prices fell by 1.1%, zinc was down 0.6%, lead decreased by 0.1%, copper edged down by 3.4%, and nickel down by 4%.

MCX futures prices remained downtrend. Nickel was up by 1.4% at INR 2,465/kg, lead decreased by 1% to INR 183.95/kg, copper fell by 0.7% to INR 771.40/kg, aluminum was down 0.8% to INR 223/kg, while zinc was down 3.2% to INR 284.85/kg.

The US non-farm data rose in January

According to the US Department of Labor, in seasonally adjusted terms non-farm payrolls jumped 517,000 in January 2023, compared with an average monthly gain of 401,000 in 2022.

Japan Service's grow in January

Japan Services purchasing managers' index (PMI) rose in January to a seasonally adjusted 52.3 from December's 51.1, marking the fastest pace since October, as per latest reports.

Oil prices fall

Brent oil futures fell by 2.17% at $80.13 per barrel, while crude oil WTI futures decreased by 2.88% to $73.5 per barrel.

Prices of natural gas were recorded at $2.451 at the time of publishing this article, almost stable as against the last closing price.

Dollar index

The dollar index, which gauges the value of the dollar in a basket of six different currencies, hovered at around 103.03 at the time of publishing this report, up 0.09% as against the last session.

The rupee was recorded at 82.41 against the US dollar, depreciating 0.15 paise against the previous closing.