Wednesday, 15 March 2017

Copper Futures In Reverse Gear

Copper futures were trading lower during evening trade in the domestic market on Tuesday as investors and speculators exited their positions in the industrial metal on fall in physical demand for copper at the domestic spot market amid strong US dollar.

The greenback rose ahead of a two-day US Fed meeting where the central bank is widely expect to raise interest rates when the meeting concludes on Wednesday led by signs of an uptick in inflation and continued strength in the US jobs market. At the MCX, copper futures for April 2017 contract is trading at Rs 385 per kg, down by 0.12 per cent, after opening at Rs 386.60, against a previous close of Rs 385.45. It touched the intra-day low of Rs 384.10.

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