Base Metals Preview: Copper Eases On Global Economic Worries

Base Metals Preview: Copper Eases On Global Economic Worries

Feb 20, 2020 03:02 IST capital market

COMEX Copper eased after hitting one week high as traders eyed weak demand scenario on economic worries. Global economy is set for a fragile and shallow recovery and the coronavirus outbreak in China is posing a new threat to the outlook, the International Monetary Fund said Wednesday. Global growth appears to be bottoming out, but the projected recovery is fragile, IMF said in a surveillance note for the G20 finance ministers and central bank governors meeting. The projected recovery is expected to be shallow and subject to downside risks. COMEX Copper eased even as equities soared yesterday and currently trades at $2.59 per pound, down 0.42% on the day. MCX Copper futures dropped marginally to close at Rs 431.50 per kg and should ease under Rs 430 mark today.

Powered by Commodity Insights

Related Story