Copper futures were little changed during afternoon trade in the domestic market on Wednesday as investors and speculators remained on the sidelines in the industrial metal ahead of the outcome of the RBI’s bi-monthly policy meet due later in the day.
Despite lower inflation and subdued global commodity prices, market experts expected that the rate cut is unlikely, however, said that the commentary would be important to watch out for.
Besides, investors remained wary ahead of the key global events, with UK elections, a European Central Bank (ECB) meeting where policymakers may take a less dovish stance, and former FBI director James Comey’s Senate testimony all set for Thursday.
At the MCX, copper futures for June 2017 contract is trading at Rs 363.10 per kg, down by 0.04 per cent, after opening at Rs 364.50, against a previous close of Rs 363.25. It touched the intra-day low of Rs 361.50 (at 14:19 hours).
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