Date: 02.03.2012
Copper prices regained
all the ground lost in the previous session and jumped over a percent on
Thursday as sentiments got buttressed on getting the encouraging manufacturing
PMI data from world's biggest copper consumer China. The hopes of improvement
in demand prospects for red metal also surfaced since the US jobs data
indicated that jobless claims slipped lower last week and remained near four
year low levels, propping up investors’ confidence.
Copper futures for March delivery soared 5.20 cents or 1.3% to close at $3.9315 per lb, after trading as high as $3.9370 and as low as $3.8485 per lb, on the Comex metals division of the New York Mercantile Exchange. Copper for three-month delivery on the London Metal Exchange climbed $131 or 1.54% to settle at $8,630 a tonne. www.goldennifty.com
Copper futures for March delivery soared 5.20 cents or 1.3% to close at $3.9315 per lb, after trading as high as $3.9370 and as low as $3.8485 per lb, on the Comex metals division of the New York Mercantile Exchange. Copper for three-month delivery on the London Metal Exchange climbed $131 or 1.54% to settle at $8,630 a tonne. www.goldennifty.com
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