Latest News on Mcx Copper

November Copper prices can initially move higher towards Rs.428.0-428.5 but again prices will see selling pressure at this level. Prices should not move above Rs430.0 to remain weak for the day. On lower side prices can have support at Rs.422.0.

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Latest News on Mcx Copper

MCX Copper settled at Rs 428.65 per kg, against Rs 427.4 per kg on 1 September 2014. The prices tested a high of Rs 431.65 per kg and a low of Rs 428.1 per kg. The selling pressure that has been built in Copper was removed last evening with prices moving higher by 0.29%. The session was capable of taking Copper above Rs 430 per kg though the settlement was lower. On the higher side Copper is capped at Rs 432 per kg. Supports for the prices are at Rs 425 per kg. Open interest has been increasing on a steady basis to 8000 against 8124 probably on account of decline in the short positions.

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LME COPPER

Three-month copper on the London Metal Exchange had edged up 0.11 percent to $7,037 a tonne by 0107 GMT, adding to gains from the previous day when it snapped a three-session losing streak to close up by 2.3 percent.

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OIL

Oil remained supported by supply concerns on rising tensions between Iran and the West, production problems in the North Sea and bombing in South Sudan.

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