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Base metal prices may see negative trend: Sushil Finance
Source: IRIS | 19 Sep, 2014, 10.48AM
Rating: NAN / 5 stars.
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Sushil Finance expects base metal prices to trade mostly on the negative note as higher supplies, weak Chinese economy and strong dollar are likely to keep prices under pressure. Copper and other base metals slipped on Thursday, pressured by renewed weakness in China's property market and by a sharp rise in the dollar after the U.S. Federal Reserve signalled interest rates could rise faster than expected.

The U.S. central bank on Wednesday renewed its pledge to keep interest rates near zero for a ''considerable time'', but also indicated it could raise borrowing costs faster than expected when it starts moving. The outlook for future interest rates lifted the dollar to a more-than a six-year high against the yen. A rising dollar makes commodities priced in the U.S. unit more expensive for holders of other currencies.

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