For more information on stock market click here >> : www.marketmagnify.com
Copper futures were trading lower during afternoon trade in the domestic market on Tuesday as investors and speculators exited their positions in the industrial metal on hopes of restart of production at the world's biggest copper mine in Chile after unions and miner BHP Billiton said that they would hold further talks.
At the MCX, copper futures for April 2017 contract is trading at Rs 381.70 per kg, down by 0.95 per cent, after opening at Rs 384.95, against a previous close of Rs 385.35. It touched the intra-day low of Rs 380.10
Trading Ideas
*Copper trading range for the day is 379.9-393.3.
*Copper dropped on worries about demand after G20 ministers dropped a pledge to keep global trade free and open weighed on prices.
*Hedge funds and money managers trimmed their bullish position in copper by 4700 lots to 52449 lots, the lowest since early Nov, US CFTC data showed.
No comments:
Post a Comment