Industrial metals lost the ground gained earlier in the session as the housing numbers turned out to be pretty weaker than expected. However, the announcement by General Motors to increase their production for the rest of 2009 lent some support to industrial metals and they pared some losses.

Aluminium and Zinc closed up on LME, gaining 2.04 and 1.36 percent respectively. Lead and Zinc lost over 1 percent each on MCX.

New U. S. housing starts and permits unexpectedly fell in July, dragged by declines in multifamily units, the Commerce Department said. Housing starts fell 1 percent to a seasonally adjusted annual rate of 581,000 units, well below market expectations for 600,000 units.

Zambia's Baluba copper mine has started blasting for copper after completing most rehabilitation works ahead of the start of full production in December, the mine's new owners, China Non-Ferrous Metals Corporation (CNMC), said.

Construction of Papua New Guinea's Ramu nickel mine and processing plant has been allowed to restart after being halted for a month due to health and safety concerns, PNG's chief mines inspector said on Wednesday.

The trend in this complex may remain range bound during the day. Aluminium is the only metal which looks good for the day and may witness some upside in today’s session.