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Copper futures dip on strong dollar, Have a look!

Copper futures dip on strong dollar, Have a look!

Copper futures were trading lower during the evening trade in the domestic market on Wednesday as investors and speculators exited their positions in the industrial metal on strength in the US dollar. However, ongoing supply worries from industrial action in Chile & an Indonesian export permit dispute supported copper prices. A stronger greenback erodes buying power for those paying for dollar-denominated commodities with other currencies.

At the MCX, copper futures for February 2017 contract is trading at Rs 401.50/kg, downward by 0.93 %, after opening at Rs 403.20, against a last close of Rs 405.25. It touched the intra-day low of Rs 401.30.

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