Copper's trading range for the day is 418.4-432. Kedia Commodities research indicate market is looking to take support at 422.5, a break below could see a test of 418.3 and resistance is likely to be seen at 429.3, a move above could see prices testing 432.
LME Copper traded near $7,800, rose by nearly one% yesterday after taking strong support of $7,600. MCX Copper prices reached above th 425 mark taking support of 417 as rupee depreciation lent support.
Copper's been the driving force for the base-metals pack and was the best performer, gaining 1.3% on the LME on the back of Chinese Premier statements coupled with weakness in the dollar index. However, further upside in prices was capped on the back of a rise in LME Copper inventories by 1.4% and remained at 224,375 tonnes.
On the domestic bourses prices increased by 1.4% due to depreciation in the Indian Rupee, closing at Rs.426.60/kg after touching an intra-day high of Rs.427.90/kg on Monday.
Zinc trading range for the day is 103.47-105.37. Market is looking to take support at 104.1, a break below could see a test of 103.5 and resistance is likely to be seen at 105. A move above could see prices testing 105.4. In yesterday's trading session Zinc touched a low of 103.8 after opening at 103.8, settling at 104.7.
Zinc yesterday traded with the positive node and settled 1.05% up at 104.7 tracking LME. The zinc market opened lower at $1,895/mt, and later rose mildly to $1,915/mt.
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Português (Portugal)
- Polski
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
Copper And Zinc For The Day
Published 05/22/2012, 11:06 AM
Updated 05/14/2017, 06:45 AM
Copper And Zinc For The Day
Latest comments
Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.