Showing posts with label Copper Trading Tips. Show all posts
Showing posts with label Copper Trading Tips. Show all posts

Thursday, 19 December 2019

Copper futures end marginally lower as dollar strengthens

Copper futures ended marginally lower on Wednesday as US dollar strengthened against a basket of major currencies due to strong economic data earlier this week, pressuring metals by making them more expensive for buyers with other currencies. 
 
Though, some losses were capped as China’s central bank lowered the interest rate on 14-day reverse repurchase agreements, in step with a similar cut in the 7-day repo rate last month, as part of an effort to stimulate growth in the world's top metal consumer.

Copper futures for March delivery lost 0.04 percent to settle at $2.8125 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.5 percent at $6,172 a ton.

MCX Live Rates

Wednesday, 10 April 2019

Copper trading range for the day is 445.8-457.4

Copper trading range for the day is 445.8-457.4.

Copper prices dropped after the International Monetary Fund cut its global growth forecast.

China said it would relax residency curbs in many of its smaller cities and increase infrastructure spending to boost economic growth.

China also announced measures to encourage financing for small and medium-sized businesses. Warehouse stock for Copper at LME was at 198275mt that is up by 725mt.

MCX Live Rates

Friday, 8 March 2019

Copper trading range for the day is 450-457.2

Copper trading range for the day is 450-457.2.

Copper prices fell as rising stockpiles and a drop in the premium for directly available metal signalled a supply squeeze on the London Metal Exchange may be easing.

Inventories in LME-registered warehouses rose to 120,075 tonnes from 116,872 tonnes on Wednesday, the lowest since 2008.

Stockpiles in Shanghai Futures Exchange (ShFE) warehouses have more than doubled to 227,049 tonnes.

Warehouse stock for Copper at LME was at 120075mt that is up by 3200mt.

Daily Commodity Mcx Live Price

Saturday, 2 March 2019

Gold falls on dollar, stocks; on track for worst week since May 2017

Gold prices on Friday fell more than 1 percent to their lowest since the January, headed for their biggest weekly decline in more than 1-1/2 years, as the dollar strengthened and global stock advances spurred risk-taking.

Spot gold was at $1,293.38 an ounce at 2:18 pm ET (1918 GMT), having fallen below the key 1,300 level for the first time since Jan. 28. It is down about 2.6 percent so far this week, the most since May 2017.

U.S. gold futures settled down 1.3 percent at $1,299.2.

"The U.S. dollar index and two-year Treasury yields have moved up over the last couple of days and these factors have prompted people to take some profits (in gold)," said Bart Melek, head of commodity strategies at TD Securities in Toronto.

"We are also seeing a continued reaction to Federal Reserve statements where hikes are still on the menu, given that data seems to be fairly strong in the United States."

Commodity Mcx Live Price

Friday, 1 March 2019

Copper trading range for the day is 459.1-472.3

Copper trading range for the day is 459.1-472.3.

Copper prices gained amid signs of falling supply and a softer dollar underpinned prices.

Copper stocks at LME have tumbled to less than 30,000 tonnes from more than 130,000 tonnes in mid-January, reaching the lowest level since mid-2005.

Nearby spreads have ballooned out to $5 and higher over much of the past week, reflecting a scramble for short holders to get metal, underpinning copper prices.

Warehouse stock for Copper at LME was at 128475mt that is down by -2450mt.

Daily Commodity Mcx Live Price

Tuesday, 23 October 2018

Copper trading range for the day is 450-462.8

Copper trading range for the day is 450-462.8.

Copper prices rose fuelled by a pledge from China's central bank that it would support firms with liquidity problems.

The pledge was followed by comments from Chinese President Xi Jinping that the ruling Communist Party would always support private-sector firms.

China is "multiplying its efforts to support the economy, and in particular, the infrastructure sector amid domestic and international headwinds," such as the trade war.

Warehouse stock for Copper at LME was at 154225mt that is up by 275mt.

Daily Commodity Mcx Live Price