India copper trades steady; all eyes on Fed meet
MUMBAI, Nov 4 (Reuters) - India copper futures were almost steady on Wednesday as traders turned their attention to the Federal Reserve meeting ahead of the interest rates decision and the comments on the state of the economy.
The most-traded November contract MCCX9 was 0.49 percent higher at 309.90 rupees per kg at 10:49 a.m.
The U.S. Federal Reserve meeting concludes later on Wednesday. [MI/DIARY]
"Market will focus on Fed for fresh leads, range seen is 307-313 rupees," said Aurobinda Prasad, deputy manager-research, Karvy Comtrade. In other base metals, zinc November MZIX9 was 0.44 percent higher at 103.40 rupees per kg, while lead for November delivery MLDX9 was 0.14 percent higher at 107.35 rupees per kg.
(Reporting by Siddesh Mayenkar; Editing by Harish Nambiar)
© Thomson Reuters 2009 All rights reserved
Dubai Debt Fears
Banks outside the Gulf played down their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets. Full Article | Slideshow
India Investment Summit 2009
Top executives and bankers discuss their own plans and the broader opportunities and challenges for India. Full Coverage
India
US
UK
