Friday, 29 May 2015

Commodity Market Update (Copper)

On Comex, precious metals are muted as traders are waiting for the US first-quarter GDP data later in the day. Gold future actively-traded contract is trading at $1189 per troy oz, almost flat while Silver future prices are trading at $16.70 per troy oz, down by two cents only. On Nymex, Crude Oil future prices rallied over one percent to trade at $58.30 a bbl, after yesterday’s US inventory fell more than expected last week. Natural Gas is trading on flat note at $2.70 per mmBtu after yesterday’s plunge. On LME, all the base metals are trading in the red. Copper prices are trading at $6096 per tonne, down by 12 dollars while Nickel is selling now at $12750 per tonnne, lower by 50 points. Lead and Zinc are also moving in the same manner to trade at $2210 and $1975 per tonne, down by 23 dollars and 17 dollars respectively.

No comments:

Post a Comment