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As on: Jun 25, 2019 07:12 AM
Copper Crashes, COMEX Futures Down More Than 1.5%
13-May-19   17:32 Hrs IST
Copper crashed today on global economic worries. Trade war fears stayed in place after the US President Donald Trump denied that US consumers will pay for higher tariffs on Chinese imports and warned China not to follow suit. The red metal currently trades at $2.73 per pound, down 1.64% on the day. MCX Copper futures are also down 0.89% at Rs 428.30 per kg. The composite leading indicator (CLI) designed to anticipate turning points in economic activity in the Organisation for Economic Co-operation and Development (OECD) area suggests easing growth momentum in most major economies. OECD leading indicator eased slightly to 99.0 in March from 99.1 in February. Easing growth momentum remains the assessment for the United States, Japan, Canada, the United Kingdom and the euro area as a whole, including Germany and Italy. OECD says among major emerging economies, stable growth momentum was the assessment for China and India.

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