Copper eases ahead of US, Chinese data

Metal Recycling News  |  2011-06-13 04:38:59   |   By

Copper futures at global markets eased slightly ahead of key Chinese and U.S. data due on Tuesday

LONDON (Scrap Monster): Copper futures at global markets eased slightly ahead of key Chinese and U.S. data due on Tuesday.

Weak Chinese import data and economic concerns in US and Europe have weighed on the metal futures.

Tracking global cues copper futures at India’s Multi Commodities Exchange are also trading on a lower note.

Copper June contract is trading at Rs. 400.75 per Kg, down by 0.21 percent at 11: 50 IST.

The contract traded at a high of Rs. 402.00 per Kg and a low of Rs. 399.40 per Kg for the time being. Volume traded is 20924 kg so far and open interest is 32027 lots as of now.

Three-month copper on the London Metal Exchange rose 0.1 percent to $8,948.25 at a tonne by 0118 GMT, treading water after falling to $8,901.75 in the previous session, the lowest since May 25.

The most-active August copper contract on the Shanghai Futures Exchange SCFcv1 fell 0.7 percent to 67,100 Yuan per tonne, catching up with its previous losses in London.