Copper advances on firm euro
Metal Recycling News | 2011-05-27 04:47:27
Copper futures at global markets rose on Friday on a firm euro, while trading remained thin ahead of a long weekend in U.S. and Britain
By Paul Ploumis
LONDON (Scrap Monster): Copper futures at global markets rose on Friday on a firm euro, while trading remained thin ahead of a long weekend in U.S. and Britain.
Tracking global cues copper futures at India’s Multi Commodities Exchange are also trading on a higher note.
Copper June contract is trading at Rs. 414.30 per Kg, up by 0.30 percent at 11:50 IST.
The contract traded at a high of Rs. 414.90 per Kg and a low of Rs. 413.20 per Kg for the time being. Volume traded is 11153 kg so far and open interest is 19908 lots as of now.
Three-month copper on the London Metal Exchange rose 0.8 percent to $9,094.50 a tonne by 0352 GMT, after closing 0.5 percent lower in the previous session.
Prices were on track for a 2.8 percent drop this month, its third straight monthly loss.
The most-active August copper contract on the Shanghai Futures Exchange SCFcv1 edged down 0.1 percent to 68,000 Yuan per tonne, also headed for a third consecutive monthly drop.
