financetom
Market
financetom
/
Market
/
Commodity Corner: Short on copper and aluminum, says Emirates NBD Securities
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Commodity Corner: Short on copper and aluminum, says Emirates NBD Securities
Jul 11, 2018 5:14 AM

Dharmesh Bhatia, commodities market manager at Emirates NBD Securities, said he would go short on copper and aluminum as both the counters look extremely weak.

In an interview to CNBC-TV18's Manisha Gupta, Bhatia said, "For base metal pack, I am still expecting the market to go further down. I am expecting 4-5 percent from the current levels or though rupee is depreciating domestically, but prices international has really corrected very sharply."

Bhatia expects copper price to go below Rs 400 in the coming weak and for traders, he is telling them to go short.

According to Bhatia, aluminum is the most hot commodity.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Sector Update: Financial
Sector Update: Financial
Aug 29, 2024
08:58 AM EDT, 08/23/2024 (MT Newswires) -- Financial stocks were advancing premarket Friday, with The Financial Select Sector SPDR Fund (XLF) up 0.4%. The Direxion Daily Financial Bull 3X Shares (FAS) was 1.1% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 0.9%. LPL Financial Holdings ( LPLA ) shares were up over 4% after...
Nasdaq, S&P futures flat as markets assess Nvidia's results
Nasdaq, S&P futures flat as markets assess Nvidia's results
Aug 29, 2024
(Reuters) - Futures tracking the tech-heavy Nasdaq and the benchmark S&P 500 were flat on Thursday, after AI-darling Nvidia's ( NVDA ) quarterly forecast failed to impress investors but a beat on both revenue and earnings expectations signaled resilient demand. Shares of the chip bellwether dropped nearly 5% in premarket trading after a largely in-line revenue forecast for the current...
US STOCKS-Wall Street set for higher open as spotlight turns to Powell
US STOCKS-Wall Street set for higher open as spotlight turns to Powell
Aug 29, 2024
(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window.) * Jackson Hole speech begins at 10 a.m. EDT (1400 GMT) * GM up after Cruise to offer robotaxis on Uber's ( UBER ) platform * Workday jumps after Q2 revenue beat, $1 bln share buyback plan * Futures up:...
Sector Update: Health Care
Sector Update: Health Care
Aug 29, 2024
08:53 AM EDT, 08/23/2024 (MT Newswires) -- Health care stocks were steady premarket Friday as the Health Care Select Sector SPDR Fund (XLV) and iShares Biotechnology ETF (IBB) were recently inactive. Galapagos (GLPG) shares were up more than 4% after saying the US Food and Drug Administration has approved an investigational new drug application for the study of its experimental...
Copyright 2023-2026 - www.financetom.com All Rights Reserved