Breaking News

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

06-May2011

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

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......