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Thursday 29 June 2017

Copper futures surge 0.79% on overseas cues : 29 June

Copper futures were trading higher during afternoon trade in the domestic market on Thursday as investors and speculators extended their positions in the industrial metal as the US dollar weakened against other currencies on bets that central banks in Europe were preparing to scale back monetary stimulus.

Further, comments from ECB chief were seen as opening the door to monetary policy tweaks, while Bank of England (BoE) Governor has also raised the prospect of a UK rate hike in the coming months this week.

At the MCX, copper futures for June 2017 contract is trading at Rs 381.80 per kg, up by 0.79 per cent, after opening at Rs 380, against a previous close of Rs 378.80. 


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