Published on 22/05/2017 5:08:00 PM | Source: Dion Global Solutions Ltd

Copper futures keep head above water

Posted in Top Stories| #Copper #MCX #Commodity

Copper futures were little changed during evening trade in the domestic market on Monday as investors and speculators extended their positions in the industrial metal on weakness in the US dollar amid political uncertainty in the US dampened expectations that President Trump would be able to boost infrastructure spending.

Further, investors hopes were diminished for US reform and rethinking strategies premised on Donald Trump's economic growth promises, as he faced his loudest criticism yet over possible collusion between his election campaign and Russia.

At the MCX, copper futures for June 2017 contract is trading at Rs 369.85 per kg, up by 0.08 per cent, after opening at Rs 368.05, against a previous close of Rs 369.55. It touched the intra-day high of Rs 370.20 (at 16:13 hours).