Last Updated : February 09, 2012 10:55
Base metals to trade sideways, MCX copper in 419-429 range
Base metals can remain sideways with some profit booking can be seen at higher levels today.
Copper can trade in range of 419-429 in MCX while Lead may remain in range of 105.5-108.5 and Zinc in range of 103.5-105.5.
Copper futures rose to a 20-week high after the government pledged to support first-time homebuyers in China, the world’s biggest consumer of the metal used in pipes and wires. Officials will boost support for affordable-housing construction, the People’s Bank of China said yesterday.
The Copper Development Association estimates that builders account for more than 40 percent of the metal’s use.
Courtesy: SMC Global
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MCX CARBON CREDITS 14 December 2012
contract was trading at
Rs 562 , down Rs. -53 . What's your view on it?
