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21 April 2008 at 16:20 IST
India copper futures down, but supply fears weigh
MUMBAI: India's copper futures on the Multi Commodity Exchange of India Ltd (MCX) were slightly down in afternoon trade on Monday, but analysts said supply fears underpinned the market, according to Reuters.
"Markets are stable right now, but the bias is on the upside," said K N Rahaman, deputy research head at Way 2 Wealth Securities Ltd.
Rahaman said prices had factored in the strike in a copper producing company in Chile and lower inventories in LME, but could firm up again on any fresh triggers.
"The ongoing supply disruption fears could linger on," said an analyst at Motilal Oswal Commodities Broker Pvt Ltd.
At 2.48 pm, April copper on the MCX traded at Rs 340.75 per kg, down 0.44 per cent from the last session.
April aluminium on the MCX traded at Rs 120.30 per kg, up 0.29 per cent from the last session.
NCDEX GOLDINTLJUL2012 30 July 2012
contract was trading at
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