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LONDON (Scrap Monster): Copper plunges on US fed, GDP data

Date: Tue, 26 Apr 2011

Copper futures at India’s Multi Commodities Exchange are also trading on a slightly lower note.

Copper April contract is trading at Rs.419.80 per Kg, down by 0.50 percent at 11:46 IST.

The contract traded at a high of Rs.421.25 per Kg and a low of Rs.417.40 per Kg for the time being. Volume traded is 11493 kg so far and open interest is 14956 lots as of now.

LME copper fell 3 percent to $9,410 by 0101 GMT after a long Easter holiday in Europe.

The most active Shanghai copper contract SCFcv1, July, fell 1.3 percent to 69,800 Yuan. The U.S. May copper contract HGcv1 dropped 0.9 percent to 426.65 cents/lb ($9,406 a tonne), after finishing down 2.20 percent, or 9.70 cents, at 430.30 cents/lb in the previous session.

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