Money Market Guru — The prices of Copper were lackluster in the evening day trades on MCX. When last seen Copper was tied at Rs 383.10 per kg, down 0.25%. The prices tested a high of Rs 383.80 per kg and a low of Rs 381.40 per kg. The range bound moves are expected to continue in Copper till fresh triggers emerge.
Last week, Trumps $500-billion infrastructure plan has already driven copper prices up, and coupled with Chinese demand, this has real staying power. Continued workers strikes at major copper mines are further boosting prices.
Moodys Investors Service warned on Wednesday that the financial risks facing China from a potential property downturn have grown as record lending has made banks more risk-prone while the government is less able to combat those risks. — Neal Bhai Reports