Copper Forecast : Copper Picks up Momentum : Copper (LME) is picking up momentum and the long-term outlook stays clearly bullish. Analyst team targets the $8895 neighborhood.
MCX Copper Tips Today : Copper prices yesterday settled up by 2.03% at 657.4 as top metals consumer China returned from a week-long Lunar New Year holiday, with brightening demand prospects and supply concerns underpinning the market.
MCX Copper yesterday settled up by 1.52% at 629.55 as dollar languished near its lowest in a week as investors began entertaining doubts about the scale of a recent rally driven by expectations of a faster pandemic recovery in the United States than elsewhere.
Copper prices this could be an opportunity to buy the dip. They see potential for copper prices pulling back in the next coming weeks for the following reasons:
Copper MCX Tips Today : Copper yesterday settled up by 2.18% at 609.55 supported from low level of inventories and hopes of further U.S. stimulus that could boost demand for the red metal.
Nickel MCX Tips Today : Nickel yesterday settled up by 2.63% at 1315.9 as the better-than-expected US first-time filings for unemployment benefits in the week ended January 30 lifted market sentiment.