Last Updated : February 10, 2012 14:20
Base metals witness signficant buying, LME copper near $8,800
Base metals prices witnessed significant buying whereas Copper prices reached to near year’s high after positive news from Europe spurred sentiments.
LME Copper reached near $8,800/t with Zinc traded above $2,100/t, Lead above $2,200/t. China’s inflation rose to 4.5% against expectations and previous level of 4.1%, eased the expectations of monetary losing.
For the short term, base metals prices are expected to hold their earlier gains whereas Copper has strong support at 425 and resistance at 440 on MCX with buying from lower level is advisable.
Courtesy: Edelweiss Comtrade Limited Research
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MCX SOYABEAN 01 January 2020
contract was trading at
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