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Metal Stocks March 11, 2011 03:24:54 AM

Copper rebounds on relaxed oil prices

Paul Ploumis
ScrapMonster Author
Copper futures in global markets rebounded after a 2-months low plunge on Thursday. Copper advanced on a bit relaxed oil prices and lessened inflationary concerns which could hit the demand

MUMBAI (Scrap Monster): Copper futures in global markets rebounded after a 2-months low plunge on Thursday. Copper advanced on a bit relaxed oil prices and lessened inflationary concerns which could hit the demand. Copper Futures in India has opened on a low note but inclined to get steady in mean time.

Copper futures in India’s Multi Commodities Exchange (MCX) opened lower on Friday. At the Multi Commodities Exchange of India (MCX) Copper April contract is trading at Rs.421. 20 per Kg, down by 0.20 percent at 11:37 IST.

The contract traded at a high of Rs.422.40 per Kg and a low of Rs.419.85 per Kg in the morning trade. Volume traded is 10544 kg so far and open interest is 25618 lots as of now.

On LME benchmark three-month copper contract increased as much as 0.9 percent to $9,275 a metric ton and traded at $9,240 at 12:13 p.m. Singapore time. The contract for May delivery on the Shanghai Futures Exchange rose 0.7 percent to 69,730 yuan ($10,607) a ton.

 

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