Breaking News

You are here » Indian-Commodity  :  Commodities  :  Copper Extends Weak Run For The Fifth Successive Session

16-Apr2011

Copper Extends Weak Run For The Fifth Successive Session

Copper prices extended their weak run till the last trading day of the week as investors worry over the short term demand prospects of the commodity showed little signs of dying down since spiraling inflationary pressures due to rising food and gasoline costs continued to undermine sentiments. The wilt in red metal prices was despite the weakness in the US greenback against a basket of currencies which typically makes the dollar denominated commodity cheaper for overseas investors.

Copper futures for May delivery slipped by 2.65 cents and settled at $4.2575 per lb on the Comex metals division of the New York Mercantile Exchange. Copper for three-month delivery on the London Metal Exchange dropped $5 to $9,405 a tonne.

Related News

View all news

BT Cotton Seeds Businesses Targeting Earnings Of Rs 700 Crore This Season

BT Cotton seeds organizations are targeting earnings of Rs 700 cr this season as a result of a rise ......

Gold Challenges To Maintain Earlier Increases As The Problems In Europe Prolongs

Gold prices surrounded reduce on Monday because the euro solved their deficits in opposition to the ......

Copper Seems To Lengthen Uptrend As Dollar Recoils

Copper rates were able to lengthen the uptrend for 3rd instantly period on Monday, as traders proved......

Top News

View all news

Spicejet's cargo arm launches freighter services on Guwahati-Hong Kong route

Spicejet's cargo arm SpiceXpress has launched dedicated freighter services between Guwahati and Hong Kong with a weekly flight, starting January 19, 2019. With this launch, SpiceXpress will be the first......

Reliance Industries to invest Rs 3 lakh crore in Gujarat in next 10 years

Reliance Industries has committed to invest Rs 3 lakh crore in various projects in the next 10 years in Gujarat that may range from energy and petrochemical to new technology and digital business. The......

Wipro reports 32% rise in Q3 consolidated net profit

Wipro has reported results for third quarter ended December 31, 2018. The company has reported a rise of 39.56% in its net profit at Rs 2,518.40 crore for the quarter under review as compared to Rs 1,804.50......