Base Metal Tips - Copper prices fell by 1.82 per cent on Monday at the domestic markets as the possibility of higher interest rates in the US, a broadly stronger US dollar and slower global economic growth, especially in China, weighed. At the MCX, copper futures for November 2014 contract were trading at Rs.294.70 per 1 kg, down by 1.82 per cent, after opening at Rs. 299.50 against the previous closing price of Rs. 300.15. It touched the intra-day low of Rs. 293.50 till the trading.
However, losses were curbed due to the surge in the copper stockpiles at the London Metal Exchange (LME) on account of the Slow demand for the commodity. LME copper stocks rose by 1200 metric tonnes to 251125 metric tonnes as on November 23, 2014.
However, losses were curbed due to the surge in the copper stockpiles at the London Metal Exchange (LME) on account of the Slow demand for the commodity. LME copper stocks rose by 1200 metric tonnes to 251125 metric tonnes as on November 23, 2014.
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