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(From Business Line)
Byline: G. Chandrashekhar
Mumbai, July 3 - BASE metal prices have declined after peaking in April, but a strong upside for prices seems to be in evidence as global economic growth prospects, low inventories and a deficit base metal market combine.
Base metal prices that have retraced some 15 per cent since April, are expected to fall further before beginning their second leg of price ascent. Evidence of a cooling Chinese economy is expected to cause a period of de-stocking while the perception of a move forward in the interest rate cycle and consequent dollar strength is also taking the shine of metal prices.