Aluminium, copper and zinc may not see further downside in 2019

摘要

International prices of base metals like aluminium, copper and zinc are not likely to see further downslide in calendar year 2019, following corrections of 13%, 7% and 16% respectively in the last one year due to macroeconomic uncertainties on the back of ongoing trade wars. Since realisation in the Indian market is determined on an import parity basis, the depreciation of the rupee against the US dollar has provided a support to base metal prices in the domestic market, ICRA has said.