According to Motilal Oswal, Base metals traded choppy last week, with prices hitting multi month highs at the start of the week and followed by some profit taking on back of volatility in the dollar and mixed data signals from China and US.
Motilal Oswal's report on Base Metals Weekly
Base metals traded choppy last week, with prices hitting multi month highs at the start of the week and followed by some profit taking on back of volatility in the dollar and mixed data signals from China and US. Hopes of a sustained economic recovery in China and as the unemployment rate fell in the US led to some gains before the end of the week.
Outlook
The US dollar consolidated gains, but was set for its biggest weekly rise in 2-1/2 months as an overnight drop in highflying US technology stocks fuelled a bout of risk aversion in global markets.
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