Friday, January 21, 2011

Copper News: Copper Fall Due to Sluggish Demand

Metal prices ended substantially lower on Friday. Copper has fallen after traders showed lack interest in buying metals following their recent drop in prices. Poor physical demand for metal also provided required support to slip.

Ahead this week, Copper fall consecutive for third straight day. On Thursday, at MCX counter Copper January delivery contract drop by 1.12 percent and tested week low at 436.65 new high at 1173 in morning trades.
Copper remains negative in last few days due to selling sentiment. China policy fear also affect Copper price to stay in red zone. Further falling can be expected at this stage as selling may continue. This days Dollar is acting as key, metals have gained despite of the Dollar adding some gain.


Posted By Commodity MCX Tips