Copper Stays On Slippery Road

Copper Stays On Slippery Road

Sep 11, 2019 12:09 IST capital market

Copper futures slipped further in quite trades today. Investors are waiting for cues from major central banks like the US Fed, ECB and BoJ for further cues on global monetary policy. COMEX Copper has slipped from near five week top and currently trades at $2.62 per pound, down 0.27% on the day. MCX Copper futures are trading at Rs 452.80 per kg, down 0.22% on the day.

On the economic front today, the Chinese banks extended more new yuan loans in August. Chinese banks extended 1.21 trillion yuan in new loans in August, up from 1.06 trillion yuan the previous month and compared with 1.28 trillion yuan a year earlier. Household loans in China, consisting of mostly mortgages, rose to 653.8 billion yuan in August from 511.2 billion yuan in July, while corporate loans jumped to 651.3 billion yuan from 297.4 billion yuan.

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