Non-ferrous metals prices show negative trends

Non-ferrous metals prices on the London Metal Exchange (LME) fell in the last trading session on 15 March, 2023.

Three-month contract prices of aluminum futures inched down by 3.4%, zinc prices were down by 1.5%, lead inched up by 0.8% and nickel decreased by 0.2%. Copper futures inched down by 3.7%.

India's retail inflation for February slowed down to 6.44% as against 6.52% in January 2023, according to data published by the Ministry of Statistics and Programme Implementation.

The wholesale price based inflation eased to 3.85% in February on easing prices of manufactured items and fuel and power, showed the government data released recently. The wholesale price index (WPI) based inflation rate was 4.73% in January this year and 13.43% in February 2022.

India's domestic aluminium scrap prices remained stable. Furthermore, the recent price hike in semis by primary players did not affect scrap prices in the domestic market.

Oil prices inch down

Brent oil futures inched down by 2.35% to $74.65 per barrel. Crude oil WTI futures inched down by 3% to $68.45 per barrel.

Prices of natural gas were recorded at $2.50/MMBtu at the time of publishing this insight, down by 6.9% as against the last closing.

Dollar index

The dollar index, which gauges the value of the dollar in a basket of six different currencies, hovered at 104.52 at the time of publishing this insight. The index inched down by 0.12% against the last session.

The rupee was recorded at 82.64 against the US dollar, depreciating 0.16 paise as against the previous closing.