Market Forces Take Copper for a Wild Ride

After a volatile day, US Copper closed up 2 per cent on Tuesday; as optimism about demand from China combined with confidence from international investors to compensate for a rising greenback and increasing stockpiles.

COMEX March copper closed up 2.4 per cent to settle at $3.4470 per lb. In India, the most-traded February contract was 0.01 per cent higher at Rs 344.20 per kg, after hitting an intra-day high of Rs 347.6.  LME copper for three-month delivery hit $7,525 per tonne, up $25 from Monday’s close.

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