The base metals complex delivered a negative performance on the LME in yesterday’s trading session.
Less than expected rise in US durable goods orders increased worries over the country’s economic growth and this led to weak sentiments in the markets on Wednesday.
This acted as a negative factor for the metal prices. Additionally, strength in the US dollar index also exerted further downside pressure on prices.
MCX Copper Updates
Copper, the leader of the base metals complex, was the worst performer on Wednesday, as the metal declined sharply by 2 percent on the LME and around 1.5 percent on the MCX.
Rising worries over slowing demand from China and a stronger dollar index exerted pressure on metal prices yesterday.
The red metal prices touched an intra-day low of $ 8,327/tonne and closed at $ 8,360/tonne on Wednesday.
MCX Copper April contract touched an intra-day low of Rs. 429.40/kg and ended at Rs. 430.70/kg yesterday.
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