Futures contracts of most base metals on the LME ended their recent rally and were largely down as investors booked profit. Prices of base metals contracts had risen earlier due to supply concerns. Nickel futures, however, traded marginally higher due to an increase in prices of steel. Nickel is a major raw material used in the manufacturing of stainless steel. Copper futures also gained slightly due to disruptions in mining operations at Freeport-McMoRan, the world's leading copper mining company. The mining employees staged widespread protests at the Indonesian unit on Saturday as
almost 3,000 workers were laid off, news reports said.
Source : Newswire
More will update soon!!
