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Pre Session Commentary
Base Metals Preview: Copper Closes Flat On MCX
14-Feb-20   09:03 Hrs IST

COMEX Copper edged up near two and half week high of $2.62 per pound before easing yesterday as the US dollar index hit around five month high above 99 mark. MCX Copper closed flat at Rs 435.50 per kg. Global stocks eased as novel coronavirus stayed in focus. Chinese shares ended lower to snap a seven-day rally after around 240 deaths from the new coronavirus were recorded in the Chinese province of Hubei on Wednesday - the bulk of it due to a reclassification. On the economic front, the US Labor Department said its consumer price index rose by 0.1% in January after rising by 0.2% in December. The European economy remains on a path of steady and moderate growth, the European Commission said in its Winter Forecast, published on Thursday. The EU retained its growth projections for the 19-nation currency bloc. The agency forecast the economy to grow 1.2% each this year and next.

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