COPPER TRIES GO GAIN MOMENTUM AFTER SLACK THURSDAY TRADES
Copper is trying to gain momentum after a slack Thursday trades that has taken the prices to a six week low. The metal closed at $ 7093 per tonne, down $ 27 per tonne. The prices are trading with gains in Asian trades on Friday at $ 7121 per tonne.
US Dollar was trading higher against the Euro at 1.3346, up 25 pips. Indian Rupee was trading a bit higher after the all time lows brought some bottom fishing in the metal. The Rupee was trading at 57.72, down 0.37 percent.
Indian Copper Price ended at Rs 408.3 per kg, down 0.78 percent. Battery material lead was the most underperforming metal in the pack with prices paring 1.2 percent to close at Rs 120.95 per kg. Read more..
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