MTECHTIPS;-Copper Steady Around $2.90 On COMEX

MTECHTIPS;-Copper Steady Around $2.90 On COMEX

MTECHTIPS-Copper futures are trading steady after hitting their two year highs as strong cues from global economy are capping any correction. COMEX Copper is consolidating around $2.90 per pound in Asia today. New orders for US manufactured goods saw a substantial increase in the month of June, the Commerce Department revealed in a report on Thursday. The Commerce Department said factory orders jumped by 3% in June after dipping by a revised 0.3% in May. Global mining giant Rio Tinto reported a 93% spurt in first-half net profit on the back of rising metal and commodity prices. The Anglo-Australian firm said net profit was US$3.31 billion in the six months to June 30, compared to US$1.71 billion in the same period last year. Underlying profit, the measure preferred by Rio, spiked 152% to US$3.94 billion. MCX Copper futures ended around Rs 405.60 per kg yesterday and should see modest gains today though weekend could trigger some profit selling pressure on rallies

MTECHTIPS-Apply For 2 Days Free Trails Equity & Commodity Tips


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s