Investing.com - Financial Markets Worldwide

Copper to Trade Sideways on Euro Debt Concerns

ByCommodityOnline
Published 10/21/2011, 09:19 AM
Updated 05/14/2017, 06:45 AM
HG
-
IMOEX
-

Mounting concerns with respect to global economic recovery and growing uncertainty over Euro Zone debt worries created demand fears for the base metals.

This coupled with mixed sentiments in the global markets also exerted downside pressure on the metals prices on Thursday.

However, depreciation in the Indian Rupee resisted further decline on the domestic bourses yesterday.

Copper

Copper was the worst performer in yesterday’s trading session. Prices dropped around 5.5 on the LME and by 3.7 percent on the MCX on Thursday.

The red metal touched an intra-day low of $6710/tonne and closed $6784/tonne yesterday. On the MCX, copper touched an intra-day low of Rs.339/kg and ended its trading session at Rs.342.5/kg on Thursday.

Zinc market experienced a surplus of 263,000t in Jan-Aug of 2011

According to the data from the Lisbon-based International Lead and Zinc Study Group (ILZSG), world zinc market witnessed a surplus of 263,000 tonnes in the first eight months of the current year.

Global consumption of refined zinc stood at 8.343 million tonnes in the period between January-August as compared to 8.265 million in the same period a year ago.

Production of world refined zinc totaled to be at 8.606 million tonnes as against 8.362 million a year earlier.

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.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.