5:41 AM
Analyst
Copper has declined in the early fall. With nearly half per cent on MCX Copper is trading close to Rs 379.40. In the first hour of trading price of copper had slipped below Rs 370.
Reason:
In fact, Moody's lowered the ratings of China, as well as poor economic data in the U.S. on Wednesday also put pressure on copper. Copper on the London Metal Exchange's why even went down to $ 7,000, which is the lowest level of the past 18 months.
40 per cent of world copper demand comes from China, where the situation is already worse than the reserves of copper in London Metal Exchange warehouses is increasing. Today, nearly 6.12 million tons of copper reserves have run across.
40 per cent of world copper demand comes from China, where the situation is already worse than the reserves of copper in London Metal Exchange warehouses is increasing. Today, nearly 6.12 million tons of copper reserves have run across.
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