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COMMODITY MARKET UPDATES FOR SEPT 15, 2016

Copper futures were trading higher during the afternoon trade in the domestic market on Thursday as investors and speculators widened their positions in the industrial metal on upsurge in demand from consuming industries in the spot market and tracking firm trend in base metals overseas. Further, uptick in demand at the spot market followed by a firming trend in global markets as strong economic data from China fueled speculation that demand will strengthen in China, the world’s largest metals consumer, supported copper prices at futures trade. At the MCX, copper futures for November 2016 contract is trading at Rs 323.45 per kg, up by 0.28 per cent, after opening at Rs 323, against a previous close of Rs 322.55. It touched the intra-day high of Rs 324.55.

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