COPPER
Copper prices rose by 0.32 percent at the domestic markets after Housing starts in Japan rose more-than-expected in the last quarter signaling an improving housing market in Japan which raised the demand outlook for the metal. In a report, Ministry of Land, Infrastructure and Transport said that Japanese Housing Starts rose to a seasonally adjusted 0.7 percent, from -3.1 percent in the preceding quarter. At the MCX copper futures for April 2015 contract were trading at Rs.391.85 per 1 kg, up by 0.32 percent, after opening at Rs. 391.45 against the previous closing price of Rs. 390.60. It touched the intra-day high of Rs. 392.50 till the trading.
Copper prices rose by 0.32 percent at the domestic markets after Housing starts in Japan rose more-than-expected in the last quarter signaling an improving housing market in Japan which raised the demand outlook for the metal. In a report, Ministry of Land, Infrastructure and Transport said that Japanese Housing Starts rose to a seasonally adjusted 0.7 percent, from -3.1 percent in the preceding quarter. At the MCX copper futures for April 2015 contract were trading at Rs.391.85 per 1 kg, up by 0.32 percent, after opening at Rs. 391.45 against the previous closing price of Rs. 390.60. It touched the intra-day high of Rs. 392.50 till the trading.
CRUDE OIL
Crude oil prices dipped on Thursday with investors awaiting stronger demand signals across the globe as central banks lean to easier policies. The Federal Reserve, kept interest rates at its current level following the conclusion of its Federal Open Market Committee meeting, but offered little clear language on the timing of its first rate hike in nearly a decade. At the MCX crude oil futures for May 2015 contract were trading at Rs. 3,735 per barrel, down by 0.53 percent, after opening at Rs. 3,745 against the previous closing price of Rs. 3,755. It touched the intra-day low of Rs. 3,730 till the trading.
Crude oil prices dipped on Thursday with investors awaiting stronger demand signals across the globe as central banks lean to easier policies. The Federal Reserve, kept interest rates at its current level following the conclusion of its Federal Open Market Committee meeting, but offered little clear language on the timing of its first rate hike in nearly a decade. At the MCX crude oil futures for May 2015 contract were trading at Rs. 3,735 per barrel, down by 0.53 percent, after opening at Rs. 3,745 against the previous closing price of Rs. 3,755. It touched the intra-day low of Rs. 3,730 till the trading.
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