Base metals witnessed sharp gains, after a sharp correction a day earlier, on the back of comforting statements from China Central Bank and weaker dollar against the basket of currencies. Strong Corporate results from the U. S. led to overall positive sentiments in markets, triggering fresh buying in metals.

Nickel remained the winner in this complex, surging by 6.27 and 4.86 percent on LME and MCX respectively. MCX Aluminium also witnessed a jump of 3.95 percent.

Chile, which mines about a third of the world's copper, produced 467,185 tonnes of the metal in June, down 2.6 percent from the same month last year, the government said on Thursday.

Chilean copper miner Antofagasta Plc on Thursday posted a 6.6 percent fall in first-half copper output, slightly better than its own expectations, and said costs remained sharply higher than last year.

Japan's refined copper exports in June leapt 156 percent from a year earlier to 57,991 tonnes, the ninth straight month of increases, with nearly 60 percent going to China, Ministry of Finance data showed on Thursday.

China’s Central Bank statement issued last day hints that the robust industrial metals demand from China may continue and provide support to base metals prices. We expect the trend to be sideways to up for the day. Nickel and aluminium look good for the day.