Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Copper Prices May Trade Down At $6715

ByCommodityOnline
Published 04/30/2014, 05:59 AM
Updated 05/14/2017, 06:45 AM



3 month forward LME copper prices traded down to settle the contract on Tuesday at $6715 down by $30 from its previous close. We believe the commodity has just moved along with other metals bearish stance while the loss in the metal was least among the sector. As we are observing in the recent past the commodities-metals are these days taking no clear cues from the global equity markets and the same is also reflected on the metals amidst it’s also taking no cues from the inventory.

This morning at LME copper is seen trading near $6730 and likely that initially slight pullback in the prices could be noticed supported by higher Asian markets while as the day progresses the commodity may take fresh cues from the European session and likely that it may again turn down. While during the US session we may witness good amount volatility in the underlying. For the day we do not intend to take a fresh stance on the commodity while we suggest making only intraday momentary trades for the day. News: Copper prices fell the most in two weeks as the Federal Reserve starts a policy meeting projected to result in a further cut for economic stimulus. The U.S. central bank will end its two-day gathering today. A tapering announcement could be bullish for the dollar while most of t he dollar denominated assets could come under pressure. Hence, possibly the commodity may turn down during the US session.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.