Breaking News

You are here » Indian-Commodity  :  Commodities  :  Copper Gets Slaughtered For Yet Another Session; Deposes Over 3%


Copper Gets Slaughtered For Yet Another Session; Deposes Over 3%

Copper prices got slaughtered for yet another session and plunged by over three percentage points on Thursday as it got pummeled to its lowest level since December after investors vehemently squared off positions as uncertainties over global economic recovery loomed large, while the spiraling inflationary risk too prompted a brutal cross-commodity crash. The red metal prices took the nasty laceration as apart from a stronger dollar, disappointing economic data from top metal consumers like US, China, and Europe triggered worries over demand prospects of base metals.

Copper futures for July delivery got slaughtered by 13.60 cents or 3.3% to settle at $3.9980 per lb on the Comex metals division of the New York Mercantile Exchange. Copper for three-month delivery on the London Metal Exchange got pounded by $304 to $8,820 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

Infosys to enter into agreement with The House Fund II

Infosys is going to enter into an agreement with The House Fund II, L.P., an AI-focused fund targeting startups from the University of California - Berkeley, committing to invest $10.0 million.......

EID Parry receives approval for investment Rs 70 crore in PSRIPL

EID Parry (INDIA) has received approval for investment upto Rs 70 crore in the equity share capital of Parry Sugars Refinery India (PSRIPL), a wholly owned subsidiary of the Company. The Board of directors......

SBI raises Rs 1,251 crore by issuing Basel III-compliant bonds

State Bank of India (SBI) has raised Rs 1,251.30 crore by issuing Basel III-compliant bonds. The Committee of Directors for Capital Raising at its meeting held on 22 March 2019 deliberated and accorded......