Readers of this report will appreciate that we had accurately predicted movements of aluminium and copper price last week. As predicted, aluminium held 1380 dollars-1390 dollars support and copper bounced back from early 1600s dollars. Rest of the metal were steady to modest losers.I expect copper and aluminium to steady further this week. However, unless good economic numbers are gleamed from the US a tearaway rally looks unlikely for the minute, and if it happens, it may present short term selling opportunities. In the recent past, copper has struggled in 1670s dollars and aluminium in 1450s dollars. These levels are likely to come under selling/profit taking pressure. Rest of the metals are likely to be mixed to mildly positive.
NSTL
