Base metals climbed in the first half of the season before retreating on Wednesday, as the market consolidated its gains and a late-session rebound in the U. S. dollar restrained any further advance. The rise in Rupee added pressure on the base metals prices.

Aluminium lost the most in the previous session, shedding over 1 percent on LME and MCX

China's imports of unwrought copper and semi-finished copper products rose 5.7 percent on the month to hit a record 422,666 tonnes in May, China's customs authority said on Thursday.

Consumer prices in China, the world's top copper consumer, fell in the year to May for the fourth month in a row, but at a slightly more moderate pace, reassuring economists who play down the risk that deflation could take root.

We witnessed some profit booking in base metals after a sharp rally but we still feel one should buy industrial metals at dip of percent during the day, Aluminium looks very strong as it has been a laggard and moved up recently. Restocking activity is expected to pick up due to signs of improvement in global economy and we expect prices to move up. We also recommend going long in copper at dips.