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India copper almost steady on US data, rupee - Reuters India

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Viraj
on January 5, 2010 9:52 AM | | Comments (0) | TrackBacks (0)
MUMBAI, Jan 5 (Reuters) - India copper futures, whichstruck a contract high in the previous session, were almoststeady on Tuesday as support from strong U.S. manufacturingdata was offset by a strong rupee, analysts said.

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The most-traded February contract MCCG0 on the MultiCommodity Exchange (MCX) was trading 0.16 percent percent lowerat 346.80 rupees per kg at 10:18 a.m. "The supporting factor would be yesterday's ISM data fromU.S., while a strong rupee is likely to weigh. Trading rangeseen is 343-350 rupees," said Murukesh Kumar, senior analyst,JRG Wealth Management.

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