• Home »
  • »
  • MTECHTIPS:-Base Metals Preview: Recovery of Copper Looks Weak As Prices Continue to Slip

MTECHTIPS:-Base Metals Preview: Recovery of Copper Looks Weak As Prices Continue to Slip

MTECHTIPS:-Base Metals Preview: Recovery of Copper Looks Weak As Prices Continue to Slip

The prices of Copper has continued to slip downwards and the real litmus test is expected on Friday as metal is close to Rs 330 per kg. This is a psychological support zone for the metal and breaching this level will bring Copper close to Rs 300 per kg. On the higher side, Copper is looking weak reaching Rs 335 per kg. Risks and rewards are still in favor of Copper. Copper prices depleted further on 6 Aug 2015 and ended the day at Rs 331.15 against 331.70 per kg on 5 Aug 2015. In international exchanges Copper has been pressured by the rise of Dollar. A stronger dollar reduces demand for raw materials as an alternative investment and makes dollar-priced commodities more expensive for holders of other currencies. The greenback has been boosted recently by expectations that the improving U.S. economy will prompt the Federal Reserve to raise short term interest rates as early as September.

www.mtechtips.com
07489294118-119