Base Metals & Energy
D A I L Y B U Z Z
COPPER
Amid weak global cues and subdued domestic demand, copper prices fell by 0.38 per cent to Rs 353.25 per kg in futures trade today on reducing of positions by speculators.
At the Multi Commodity Exchange ( MCX), copper for delivery in February fell by Rs 1.35, or 0.38 per cent, to Rs 353.25 per kg in business turnover of 1,052 lots.
Similarly, the metal for delivery in April traded lower by Rs 1.30, or 0.36 per cent, to Rs 357.65 per kg in 104 lots.
CRUDE OIL
Crude oil prices fell by 0.49 per cent on Monday at the domestic markets after a slump in Chinese imports pointed to lower fuel demand in the world biggest energy consumer. China's trade performance slumped in January, with exports falling 3.3 percent from year-ago levels while imports tumbled 19.9 percent, far worse than analysts had expected and highlighting a deepening slowdown.
Chinese crude oil imports slid by 7.9 percent in volume terms in January. At the MCX, crude oil futures for February 2015 contract were trading at Rs. 3,244 per barrel, down by 0.49 per cent, after opening at Rs. 3,234 against the previous closing price of Rs. 3,260. It touched the intra- day low of Rs. 3,225 till the trading. (At 11.47 AM).
