Monday, February 6, 2012

MCX Copper Updates For Today: 6th Feb

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In base metals mixed business is. Aluminium, Copper, Nickel in the fall. However, lead and zinc are 0.25 to 0.75 per cent. Copper is trading now at 418.8 in a consolidate pattern.

London copper slipped on Monday as investors were cautious ahead of a looming deadline for Greece to accept the terms of a new bailout deal, offsetting encouraging U.S. jobs data that pushed prices up almost 3 percent in the previous session.

Hindustan Copper recorded a net profit of Rs 80.7 crore in the third quarter of FY12, a 69% jump over previous quarter, on account of higher copper prices. Net sales came in at Rs 307 crore.

Copper futures are likely to open lower today following overseas markets, and a stronger rupee back home.

Crude oil seems to take over. On MCX, crude oil is marginally down at Rs 4764. Crude oil was down 0.5 per cent in early trade.

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