COPPER
Copper prices rose by 0.57
percent on Tuesday at the domestic markets after Japan's exports grew
the most in a year in December, helped by a weak yen and a pick-up in
overseas demand led by the United States, an encouraging sign for the
recession-hit economy which raised the demand outlook for the metal. The
12.9 percent year-on-year rise in exports marked a fourth straight
month of growth, supported by shipments of cars to the United States and
of electronics parts to China.
At
the MCX Copper futures for June 2014 contract were trading at Rs.343.30
per 1 kg, up by 0.57 percent, after opening at Rs. 343 against the
previous closing price of Rs. 341.35. Copper touched the intra-day high
of Rs. 345.60 till the trading.
CRUDE OIL
At the MCX, crude oil futures for February 2015 contract were trading at Rs. 2,793 per barrel, down by 1.55 percent, after opening at Rs. 2,820 against the previous closing price of Rs. 2,837. Crude Oil touched the intra-day low of Rs. 2,793 till the trading.
Crude oil prices fell by 1.55 percent on Tuesday at the domestic markets after the Federal Reserve Bank of Dallas manufacturing business index fell unexpectedly last month signaling weak manufacturing activity in the region which reduced the demand prospects for the fuel. Dallas Fed said that Dallas Fed Mfg Business Index fell to a seasonally adjusted annual rate of -4.4, from 3.5 in the preceding month whose figure was revised down from 4.1.
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