Most base metals on MCX were trading sharply down for the second straight day today, taking cues from London Metal Exchange where prices edged lower on mounting inventories and as market expressed doubt that the US bailout package on Tuesday may not alone suffice in resolving the economic crisis, analysts said.
LME copper stock jumped by 2,025 tonne today along with aluminium and zinc that showed an increase by 12,875 tonne and 1,050 tonne, respectively. Nickel stock also moved up but marginally, while lead was the sole commodity that witnessed a slight fall in inventory level today.
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