Report On Base Metal Weekly

COPPER

 

Copper prices fell 0.22 percent to Rs 406.25 per kg in futures trade on Thursday after speculators trimmed positions on a weak global trend. At the Multi Commodity Exchange (MCX), copper for February 2015 delivery fell by 90 paise, or 0.22 percent, to Rs 406.25 per kg in a business turnover of 1,037 lots. In a similar fashion, the metal for delivery in April next year shed 85 paise, or 0.21 percent, to Rs 410.40 per kg in 19 lots. 

 

 

CRUDE OIL

Brent crude jumped 3 percent to above $63 a barrel on Thursday, extending a rebound from five-year lows this week as oil's six-month price rout forced more energy firms to cut investments in new production. Oil this week slumped as low as $58.50 and has almost halved since June as fast-growing US shale output overwhelms demand, with losses accelerating after producer group OPEC decided not to cut output at its meeting last month.