Base Metal : prices pared gains, with Copper impacted by hefty rise (40,000 tons) in LME warehouses. Meanwhile, supply side issues at Antofagasta’s two copper mines failed to provide much support to the prices. Nickel prices also remained under pressure, as Indonesia permitted two more companies to export mineral ores.
Crude Oil – Oil futures lose the impetus, after an impressive recovery during past few trading sessions. Reports of rise in OPEC’s exports dented the hopes of rebalancing the supply/demand equilibrium. In this regard, OPEC exports for June were reported around 26mbpd, up 45,0000 bpd from May levels and 1.9mbpd from a year ago.