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Indian-Commodity  :  Commodities  :  Copper  :  Copper futures edge lower on MCX

Copper futures edge lower on MCX (17-Aug-2016)

Copper futures edged lower on MCX as speculators exited positions in the industrial metal amid soft physical demand for copper in the domestic spot market. Further, renewed fears over a US interest rate hike in September dimmed the appetite for risky assets with worries that the world's biggest economy may not be strong enough to handle near-term monetary tightening. A top Fed official on Tuesday raised the likelihood of a hike in borrowing costs as early as September.

The contract for August delivery was trading at Rs 318.85, down by 0.73% or Rs 2.35 from its previous closing of Rs 321.20. The open interest of the contract stood at 27156.00 lots.

The contract for November delivery was trading at Rs 325.25, down by 0.69% or Rs 2.25 from its previous closing of Rs. 327.50. The open interest of the contract stood at 1518.00 lots on MCX.


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