Friday, 5 June 2015

Commodity Market Update (Copper)



On Comex, precious metals remained muted ahead of US non-farm payrolls data later in the day. Gold futures prices are trading at $1174 per oz, lower by one dollar while Silver future prices are trading at $16.11 per oz with flat note. On Nymex, WTI Crude Oil prices are trading in the red to trade at $57.80 per bbl, down by 20 cents as participants remained cautious ahead of key meeting of OPEC. Natural Gas is now trading at $2.63/mmBtu, almost flat after yesterday’s storage data. On LME, all the base metals are trading in the red ahead of US unemployment rate. Copper is currently quoting at $5918 per tonne, fell by two dollars while Nickel is selling at $ 12875 per tonne, down by 60 dollars. Lead and Zinc are trading at $1914 and $2131 per tonne, lower by 15 dollars and 10 dollars respectively.

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