Copper Sharply Down 3.6% On Thursday
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Copper diluted in a single day and settled at Rs 389.10 per kg, down 3.6%. The decline in Copper brings the metal towards a low of 2 Feb 2017. This is also a critical level which if broken can take prices close to Rs 379 per kg.
In a seperate news, U.S. central bank gave no firm signal on the timing of its next rate move, with policymakers noting uncertainty over economic policy under the Donald Trump administration. Meanwhile, markets were also in a wait-and-see mode in anticipation of President Donald Trump’s address of a joint session of Congress on Tuesday next week, at which he is expected to announce tax policies.
Chile´s Escondida copper mine, the world´s largest, said on Tuesday it would not begin replacing striking workers for at least 30 days into a work stoppage to show its commitment to dialogue.