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Gaining Dollar and demand uncertainties made Copper falls to week-low

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by - 10/13/2012 4983 Views

Copper prices slipped to their lowest level in more than a week on Monday

On the back of falling Aluminium to month’s low, now copper prices slipped to their lowest level in more than a week on Monday concern about firm dollar and the outlook for demand from top consumer China.

China, the world’s top consumer which accounts for roughly 40% of the globe’s consumption of the base metal, is poised to release economic data about trade and growth next week, which is sure to capture rapt attention from investors, traders and analysts.

 Three-month copper on the London Metal Exchange dropped by 0.8 per cent in official trading to $8,176 a ton after hitting their lowest in two weeks at $8,105 a ton last Wednesday.

Delhi Copper mixed scrap and Mumbai Copper heavy both dropped by Rs 2 and Rs 3 per kg to Rs 446/kg and Rs 480/kg from previous day’s closing levels of Rs 448 and Rs 483.

Mumbai Base metal copper dropped by Rs 3.15 /kg to 434.75 from Thursday’s close price of Rs 437.9/kg yesterday.

However, Kolkata copper price also dropped by Rs3/kg from Thursday’s close price of Rs 518 to reach Rs 515/kg.

US copper price also moved down by 1.09% to $ 3.68/lb from $ 3.72/lb respectively.

Category : Metal

Tags : Copper price, LME copper, US copper, Delhi Copper scrap price, Mumbai Copper prices


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