MTECHTIPS:-Copper Retreats in December, Slips below

MTECHTIPS:-Copper Retreats in December, Slips below

MTECHTIPS- copper price hit an 18-month high on an intraday basis at the end of November, buoyed by a rebound in top consumer China and a hopes of stronger economic growth in the US. Copper ended the session on 21 Nov 2016 at INR 377.30 per kg. The prices tested a high of INR 378.30 per kg and a low of INR 373.40 per kg. But the metal has been mostly in retreat this month as doubts creep in about the impact of president elect Trump’s fiscal stimulus plans and a stronger dollar prompts profit-taking. On Wednesday copper for delivery in March, the most active contract, declined 0.54% from Friday’s close to a low of $2.54 per pound on the Comex market in New York.

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