Amid all the turmoil around the world at the moment with various conflicts threatening, all is rather smooth at the moment with metal markets continuing to trade in steady territory. We find most traders happy to price material, although there is no desperation in their requirements. The HSRA exchange rate been unbelievably steady and has averaged 0.93_ _ for April, May, June and July and is currently trading around 0.9311.
**** DJ LME Copper Trades Lower And May Weaken Further — Market Talk ****
By Francesca Freeman @ wsj.com
Copper futures are slightly lower on the LME, trading down 0.3% on the day at $7,052.50/ton. “The base metals remain in consolidation mode with the recent strong performers now off their highs and looking vulnerable still,” says William Adams, head of research at FastMarkets.com. “We would not be surprised to see the base metals complex pull back in search of support levels that hold.”