Copper slips after hitting four-month high
Metal Recycling News | 2012-01-27 00:42:34 | By Paul Ploumis
Copper futures at global markets slipped on Friday after hitting four-month high on the prospect of additional U.S. stimulus moves supporting sentiment
LONDON (Scrap Monster): Copper futures at global markets slipped on Friday after hitting four-month high on the prospect of additional U.S. stimulus moves supporting sentiment.
Meanwhile, copper futures at India’s Multi Commodities Exchange (MCX) are trading on a higher note.
Copper February contract at MCX is trading at Rs. 426.70 per Kg, up by 0.84 percent at 11:06 IST.
The contract traded at a high of Rs. 428.00 per Kg and a low of Rs 424.00 per Kg for the time being. Volume traded is 16638 kg so far and open interest is 35924 lots as of now.
Three-month copper on the London Metal Exchange lost 0.6 percent to $8,540.25 a tonne by 0115 GMT, reversing some of the previous session's 2.5 percent gain.
The metal is headed for a 4 percent increase this week.
Shanghai Futures Exchange will remain closed this week for the Lunar New Year holidays.
Meanwhile, copper futures at India’s Multi Commodities Exchange (MCX) are trading on a higher note.
Copper February contract at MCX is trading at Rs. 426.70 per Kg, up by 0.84 percent at 11:06 IST.
The contract traded at a high of Rs. 428.00 per Kg and a low of Rs 424.00 per Kg for the time being. Volume traded is 16638 kg so far and open interest is 35924 lots as of now.
Three-month copper on the London Metal Exchange lost 0.6 percent to $8,540.25 a tonne by 0115 GMT, reversing some of the previous session's 2.5 percent gain.
The metal is headed for a 4 percent increase this week.
Shanghai Futures Exchange will remain closed this week for the Lunar New Year holidays.