ZOID RESEARCH 16-JULY-2014 : COPPER

LME Copper prices traded gained by 0.1 percent yesterday as the FED policy makers are sure to wind up its bond buying programme by its October meeting which in turn will create demand for copper supporting prices.

In addition, data from China also indicated optimism as China’s Gross Domestic Product (GDP) increased by 7.5 percent in Q2 of 2014 from 7.4 percent in Q1 of 2014. Industrial Production grew by 9.2 percent in June as against a rise of 8.8 percent in May.

MCX Copper prices gained by 0.2 percent before closing at Rs.435/kg on Tuesday.