ZOID RESEARCH 28- MAY-2014 : COPPER

LME Copper prices gained 0.4 percent yesterday owing to signs of improving demand exhibited by positive durable goods and consumer confidence data from the US, world’s second biggest consumer. Further, weakness in the DX acted as a positive factor.

However, gain of 0.4 percent in LME inventories after a series of declines along with mixed global market sentiments prevented sharp gains in prices. The red metal touched an intra-day high of $6966/tonne and closed at $6938.75/tonne on Tuesday.

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