Non-ferrous metals prices show negative trends
Non-ferrous metals prices on the London Metal Exchange (LME) showed negative movements on 3 May 2023. The three-month aluminium futures contract inched down by 2% to $2,3...
Non-ferrous metals prices on the London Metal Exchange (LME) showed negative movements on 3 May 2023. The three-month aluminium futures contract inched down by 2% to $2,321/t. Zinc prices edged up by 1% to $2,630/t. Lead prices edged down by 2% at $2,131/t. Nickel prices inched down by 1% to $24,743/t. Copper futures inched down by 1% to close at $8,468/t.
Unemployment rates were lower in March than a year earlier in 208 of the 389 metropolitan
areas. It was higher in 151 areas, and remained unchanged in 30 areas, the U.S. Bureau of Labor Statistics reported, recently. A total of 125 areas had jobless rates of less than 3.0% and 11 areas had rates of at least 8.0%.
Non-farm payroll employment, on the other hand, increased over the year in 91 metropolitan areas. It decreased in 1 area, and was essentially unchanged in 297 areas. The national unemployment rate in March was 3.6%, not seasonally adjusted, changed little from a year earlier.
India
Domestic prices of aluminium alloy ingot ADC12 moved down by INR 1,000/t to INR 200,000/t w-o-w. Factors weighing on prices are costly imported material and moderate transactions. According to one market participant, the price announcement for Maruti's ADC12 is expected to remain relatively stable for April in contrast to prices for March. The likelihood of a price increase appears minimal.
Brent oil futures were down by 2.32% to $72.92 per barrel. Crude oil WTI futures were down by 2.40% to $68.96 per barrel.
Prices of natural gas were recorded at $2.181/MMBtu at the time of publishing this insight, down 1.4% 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 101.08. The index inched down by 0.26% against the last session.
The rupee was recorded at 81.71 against the dollar. The rupee remained almost firm against its previous closing.
