Copper futures were trading unchanged during late morning trade in the domestic market on Monday as traders remained wary of remarks made by China’s Premier Li Keqiang who warned that global economic uncertainties have increased in the wake of Britain’s shock vote to exit from the EU, clouding the demand outlook for the industrial metal.
Meanwhile, the People’s Bank of China weakened the yuan fixing by the most since August in response to the surge in the dollar. The country’s central bank set the reference rate 0.9 per cent weaker at 6.6375 per dollar.
At the MCX, Copper futures for June 2016 contract is trading at Rs 317.30 per kg, unchanged, after opening at Rs 316.60, against a previous close of Rs 317.30. It touched the intra-day low of Rs 316.30 (At 11:20 AM).
Meanwhile, the People’s Bank of China weakened the yuan fixing by the most since August in response to the surge in the dollar. The country’s central bank set the reference rate 0.9 per cent weaker at 6.6375 per dollar.
At the MCX, Copper futures for June 2016 contract is trading at Rs 317.30 per kg, unchanged, after opening at Rs 316.60, against a previous close of Rs 317.30. It touched the intra-day low of Rs 316.30 (At 11:20 AM).
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