Meanwhile striking workers at state-owned Codelco’s Andina copper mine have rejected their employers’ latest contract offer, the company and union said on Wednesday. Also Indonesia will extend a special mining permit for PT Freeport Indonesia for another month to September, Energy and Mineral Resources Minister Ignasius Jonan told reporters on Wednesday.
Last night the US dollar index slumped to the lowest in four weeks, as investors lost confidence in the dollar after the US and Mexico reached a preliminary agreement to change parts of the NAFTA. Base metals closed mixed.
Copper MCX Tips, Above ₹ 416, Sell Karma Mana Hai – Neal Bhai Reports
Where LME nickel lost over 1.6%, tin fell 0.75%, copper slid 0.65%, zinc inched down, while aluminium jumped 1.13%, and lead gained 0.53%. SHFE zinc rose 0.57%, lead increased 0.55%, aluminium grew 0.13%, while nickel lost 0.35%, copper dropped 0.31%, and tin edged down.
The US GDP increased at a 4.2% annualised rate for the second quarter, stronger than the expected 4% growth, notching its best performance in nearly four years. While The country’s pending home sales index decreased 0.7% to 106.2 in July, compared with an expected increase of 0.3%, according to the NAR.
