Copper Tips
Copper can be buy from the position of 447.
At the Multi Commodity Exchange, April copper traded higher by Rs 1.65, or 0.37%, at Rs 451.30 per kg, with a business turnover of 250 lots.
Market men said a firm global trend on speculation that China's plan to seek growth of higher quality and efficient next year will bolster demand for industrial metals in the largest consumer influenced copper prices at futures trade here. The metal for delivery in far-month February edged up by Rs 1.60, or 0.36%, to Rs 446.90 per kg, with a business turnover of 4,032 lots. Copper was little changed on Monday,
consolidating gains after a five-week winning streak, on uncertainty over the
ability of the United States to avert a "fiscal cliff" that could slow growth
and metals demand globally.
Benchmark copper on the London Metals Exchange traded at $8,055.25 at 1021 GMT, little changed from $8,065 at the close on Friday. U.S. House of Representatives Speaker John Boehner offered to accept a tax rate increase for the wealthiest Americans, knocking down a key Republican road block to a deal resolving the so-called fiscal cliff of tax hikes and spending cuts.
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