COPPER
Copper prices fell on Tuesday as investors awaited hints on monetary policy from the Federal Reserve. A recent run of disappointing U.S. economic data dampened optimism over the recovery; fuelling speculation the Fed could delay hiking interest rates until late 2015, instead of tightening midyear. However, Futures remained supported in the midst of speculation policymakers in China will have to introduce further stimulus measures to jumpstart the economy amid lackluster growth. At the MCX copper futures for April 2015 contract were trading at Rs. 385.10 per 1 kg, down by 0.66 percent, after opening at Rs. 386.20 against the previous closing price of Rs. 387.65. It touched the intra-day low of Rs. 384.15 till the trading.
Copper prices fell on Tuesday as investors awaited hints on monetary policy from the Federal Reserve. A recent run of disappointing U.S. economic data dampened optimism over the recovery; fuelling speculation the Fed could delay hiking interest rates until late 2015, instead of tightening midyear. However, Futures remained supported in the midst of speculation policymakers in China will have to introduce further stimulus measures to jumpstart the economy amid lackluster growth. At the MCX copper futures for April 2015 contract were trading at Rs. 385.10 per 1 kg, down by 0.66 percent, after opening at Rs. 386.20 against the previous closing price of Rs. 387.65. It touched the intra-day low of Rs. 384.15 till the trading.
CRUDE OIL
Crude oil prices eased on Tuesday prior to the US industry supply data as well as continued concerns of a wider conflict in Yemen. The American Petroleum Institute reports crude, gasoline and distillate stockpiles for the end of last week later in the day, which will be followed on Wednesday by more closely-watched figures from the US Department of Energy. At the MCX, crude oil futures for May 2015 contract were trading at Rs. 3,586 per barrel, down by 0.69 percent, after opening at Rs. 3,607 against the previous closing price of Rs. 3,611. It touched the intra-day low of Rs. 3,573 till the trading.
Crude oil prices eased on Tuesday prior to the US industry supply data as well as continued concerns of a wider conflict in Yemen. The American Petroleum Institute reports crude, gasoline and distillate stockpiles for the end of last week later in the day, which will be followed on Wednesday by more closely-watched figures from the US Department of Energy. At the MCX, crude oil futures for May 2015 contract were trading at Rs. 3,586 per barrel, down by 0.69 percent, after opening at Rs. 3,607 against the previous closing price of Rs. 3,611. It touched the intra-day low of Rs. 3,573 till the trading.
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