Copper prices traded flat on London Metal Exchange as markets expected little happening in the global economic space during the week. Three month forward LME contract was trading at $ 7338 per tonne, compared to $ 7345 per tonne on Tuesday.
Two days European summit is eyed that is expected to bring nothing new into the markets. It will be a non event with likely hood of less response from base metals. Domestic MCX futures are skewed between Rs 420 and 410 per kg zone.
In its latest report, International Copper Study Group (ICSG) report showed that the world Copper was in deficit of 273000 tonnes in the first quarter of 2012. But with slowdown in world economic space and questions on Copper demand that news has been discounted. [ News Source ]
Two days European summit is eyed that is expected to bring nothing new into the markets. It will be a non event with likely hood of less response from base metals. Domestic MCX futures are skewed between Rs 420 and 410 per kg zone.
In its latest report, International Copper Study Group (ICSG) report showed that the world Copper was in deficit of 273000 tonnes in the first quarter of 2012. But with slowdown in world economic space and questions on Copper demand that news has been discounted. [ News Source ]
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