LME DATA FOR MARCH 31

COPPER LME: COPPER DN 1775, NICK DN 396,

LEAD UP 375 ZINC UP 825

sell mcx april copper up to Rs 203.25

Tgt Rs 200 , SL Rs 204.80

MARKET ALERT ON MARCH 31 TUESDAY 12. 10 PM IST

EXIT FROM COPPER BUY CALL AT CMP RS 203

Buy MCX April Copper atRs 203 , SL Rs 202 ,

Tgt Rs 204.50 , 206

TECHNICALS FOR MARCH 31

MCX APRIL COPPER

SUPP: 198.60, 196.70, 194.30

RES : 203.3, 205,60, 208.30

PREFER SHORTS AT RESISTANCES

april copper still weak, could test

upto 198.60 levels, resistance above

203.10, cmp 201.20

copper book full profits in sell call.

wait for fresh entry. cmp 200.10

APRIL COPPER CMP 202.30, IS LIKELY TO

MOVE DOWN AND TEST 199.10 LEVELS, RES AT 204.80

LME INVNTORY FOR MARCH 30 MONDAY

COPPER UP 650 MT , NICKEL UP 1026 MT ,

ALUMINIUM UP 6575 MT , ZINC DOWN 150 MT ,

LEAD UP 1000 MT

MARKET ALERT ON MARCH 30 MONDAY 12.45 AM IST

Book profits in copper upto Rs 202.85 in our

sell copper at Rs 204.40 or trail cost as stop loss.

MARKET ALERT ON MARCH 30 MONDAY

BUY APRIL STEEL AT RS 20300 , TGT RS 20600 ,

SL RS 20130

MARKET ALERT ON MARCH 30 MONDAY 11.10 AM IST

MCX April copper could test Rs 201 level,

if it sustains below Rs 206.30.

Sell around 204 to 204.50 levels.

APRIL COPPER WEAK BELOW 204, RES A 206,

AND COULD TEST SUPPORTS 210, 198

TECHNICALS FOR MARCH 30

MCX APRIL COPPER

TREND ; SIDEWAYS

SUPP: 202.80, 199.80, 196.60

RES ; 208.30, 210.90, 213.50

WAIT FOR CALLS

april copper still looking weak now at

203.80 and has resistance at 206, and

could test supports at 200.50.

MARKET ALERT AT 5.30 PM MARCH 27


april copper cmp 203.60 book full profits

in our sell at 206.

COPPER LIKELY TO TEST 202.50 LEVSL, TRADERS

HOLDING SHORTS CAN HOLD FOR THESE LEVELS.

sell april copper at 206, sl above

207.60, tgt 203.60

LME FOR MARCH 27

COPPER DN 3300,ZINC DN 625 NICK UP 930

ALU UP 14925

copper supprt is 204 now and res 206.50, 207.50

TECHNICALS FOR MARCH 27

MCX APRIL COPPER

TREND :UP

SUPP; 206.30, 203.80, 201.80

RES : 208.60, 211, 213.80

WAIT FOR FRESH CAL

MCX APRIL COPPER CMP 206.20

BUY AT CMP TGT 209, SL 204.20

TECHNICALS FOR NYMEU TRADING MARCH 26

MCX APRIL COPPER

SUPP; 203.50, 200.70, 198.50

RES ; 208.50, 210.90, 213

HOLD LONGS AT SUPPORTS

LME FOR MARCH 25

: COPPER UP 225, NICK UP 1100, ZINC DOWN 825 ,

LEAD UP 650 , ALIMINIUM UP 4225

COPPER MEDIUM TERM LOOKING GOOD FOR TGT 220 TO 225

BOOK PROFITS IN COPPER AT RS 206.50

BUY WAS RECOMMENDED AT RS 203.50.

MARKET ALERT ON MARCH 25 THURSDAY 12.00 AM IST

Book partial profits in copper at Rs 205.20

or trail cost as top loss in our buy copper

at Rs 203.50 to 203.80.

MARKET ALERT ON MARCH 26 THURSDAY 11.00 PM

MCX April Copper is expected to test Rs 206.30

if it sustains above Rs 201.30

Buy is recommended around Rs 203.50 to 203.80.

TECHNICALS FOR MARCH 26

MCX APRIL COPPER

TREND : SIDEWAYS

SUPP: 200, 198.30, 196.30

RES : 203.50, 204.70, 207.70

WAIT FOR CALLS

TECHNICALS FOR NYMEX TRADING MARCH 25

MCX APRIL COPPER

TREND ; SIDEWAYS TO DOWN

SUPP: 197.50, 193.60, 192

RES : 202.60, 205.80, 208.30

WAIT FOR CALLS

copper has resistances at 203.50, 204.50,

and supports 197.50, 196: trend bearish

MARKET ALERT ON MARCH 25 WEDNESDAY 2.40 PM IST

INVENTORY COPPER DOWN 1750 , ZINC DOWN 300 ,

LEAD UP 1050 , NICKEL UP 1476

TECHNICALS FOR MARCH 25

MCX APRIL COPPER

TREND ' SIDEWAYS

SUPP; 199.80, 197.80, 194.60

RES ; 204.80, 208.30, 210

WAIT FOR CALLS

LME DATA MARCH 24 TUESDAY




COPPER INVENTORY DOWN 2900 , NICKEL UP 1116 , LEAD UP 100 ,

ZINC UP 650 , ALUMINIUM DOWN 4475

MARCH 24 TUESDAY

TREND : UP

S1 RS 203 , S2 RS 201.30 , S3 RS 198.60

R1 RS 206.50 , R2 RS 209 , R3 RS 211

STAY LONG AT SUPPORT

TECHNICALS FOR NYMEX TRADING MARCH 23

MCX APRIL COPPER

TREND ; UP

SUPP; 204, 201, 198

RES ; 208.25, 211, 213.50

HOLD LONGS AT SUPPORTS

buy copper at 206 , sl 204 tgt 209

LME UPDATE FOR MARCH 23

COPPER UP 4375 MT , ZINC UP 3475 , LEAD DOWN 1225

NICKEL DOWN 180 , ALUMINIUM UP 7450

MARKET ALERT ON MARCH 23 MONDAY 1.00 PM IST

Buy steel NCDEX April up to Rs 20100 ,

SL Below Rs 19940 , Tgt Rs 20490

low risk trdears book profits in copper upto 207.80,

others traill sl below cost

buy copper at 206, tgt 210, sl 203.70

TECHNICALS FOR MARCH 23

MCX APRIL COPPER

TREND ; SIDEWAYS TO UP

SUPP : 198, 194, 191

RES ; 202, 205, 208.8

HOLD LONGS AT SUPPORTS

TECHNICALS FOR NYMEX TRADING MARCH 20

MCX APRIL COPPER

TREND ; UP

SUPP; 201, 198, 194

RES ; 203, 206.20, 209.10

WAIT FOR FRESH CALL

copper supports 201.70, 199.80,

res 204.50, 206.10, 207.4

LME MARCH 20

COPPER LME Inventory:
Copper +10500
Zinc -1650
Nickel -162
Lead -25
Tin +255
Aluminium +3000

MARKET ALERT ON MARCH 20 2009 1.10 AM IST

BOOK FULL PROFIT IN COPPER AT CMP RS 204.25.

BUY WAS INITIATED AT RS 200.

MARKET UPDATE : AT 12.30 PM IST

SHANGHAI COPPER NOW AT UPPER CIRCUIT AT 5 %

MARKET ALERT ON MARCH 20 FRIDAY 11.25 AM IST

BOOK PARTIAL PROFIT IN OUR BUY COPPER AT RS 200 UPTO

RS 202.25 OR TRAIL STOP LOSS BELOW COST.

MARKET ALERT ON MARCH 20 FRIDAY 10.20 AM IST

MCX APRIL Copper is expected to test Rs 203 / 205

if it sustains above Rs 197.

Buy is recommended around Rs 200 levels.

MARCH 20 FRIDAY

TRENFD : UP

S1 RS 198.60 , S2 RS 196 , S3 RS 194

R1 RS 203 , R2 RS 206.30 , R3 RS 209

STAY LONG AT SUPPORT.

the inr appreciation yesterday by about 2%

pinned down the prices of copper, gold and

crude, in all of which international markets

zoomed yesterday.

traders holding longs in copper revise

stoploss to 199.25 and hold for 203

copper cmp 200.50 book profits or trail stoploss to cost

traders holding longs i n copper book profits

or trail stoploss below cost

BUY MCX APRIL COPPER 198.50 LEVELS, TGT 202, SL 196.10

LME INVENTORY FOR MARCH 19

COPPER ; LME : COPPER DN 1700 LEAD DN 250

NICK UP 480, ZINC DN 1725

TECHNICALS FOR MARCH 19

MCX APRIL COPPER

TREND : SIDEWAYS

SUPPORTS ; 193, 190, 187

RES ; 197.60, 199.90, 202.8

WAIT FOR CALLS

MARKET ALERT ON MARCH 18 WEDNESDAY 9.20 PM IST

MCX April copper could test Rs 191

if it sustains below Rs 196.20.

TECHNICALS FOR NYMEX TRADING MARCH 18

MCX APRIL COPPER\


TREND ; SIDEWAYS

SUPP: 193, 190, 186.80

RES ; 197.60, 200.10, 203,10

lme : copper up 625, lead up 1325, zinc dn 650, nick up 876

MARKET ALERT

MCX APRIL COPPER BUY ABOVE 197 TGT 200, SL 195

MAEKET ALERT AT 11 AMMARCH18

COPPER IS STRONG ABOVE 197, AND HAS

SUPPORT AT 195 AND RESISTANCES AT 199

AND 201.

MARCH 18 WEDNESDAY

TREND : UP

S1 RS 193.20 , S2 RS 191 , S3 RS 189

R1 RS 197.50 , R2 RS 199.40 , R3 RS 201

WAIT FOR CONFIRMATION.

TECHNICALS FOR NYMEX TRADING MARCH 17

MCX APRIL COPPER

TREND ; UP

SUPPORTS ; 195, 192, 188

RES ; 198.90, 201.90, 204.80

HOLD LONGS AT SUPPORTS

buy mcx april copper 196.60 tgt 200 sl 194

LME DATA MARCH 17

COPPER ; LME COPPER : COPPER DN 325 LEAD DN

125 NICK UP 420 ZINC UP4250

TECHNICALS FOR MARCH 17

MCX APRIL COPPER

TREND ; UP

SUPPORTS ; 196, 192.90, 189.80

RES ; 198.80, 201.10, 204.80

HOLD LONGS AT SUPPORTS

TECHNICALS FOR NYMEX TRADING MARCH 16

MCX APRIL COPPER

TREND ; UP

SUPPORTS ; 190.90, 187.70, 185

RES : 194.70, 197.70, 200

HOLD LONGS AS PER CALL

LME FOR MARCH 16

COPPER DN 2775, LEAD UP 225, ZINC DN 1025

NICKEL UP246

MARKET ALERT ON MAR 16 MONDAY 12.30 PM IST

MCX April copper is expected to test Rs 194.10/

Rs 196.60 , if it sustains above Rs 187.40.

TECHNICALS FOR MARCH 16

MCX APRIL COPPER

TREND ; UP

SUPPORTS ; 187.40, 183.80, 181.10

RES ; 191.50, 194.30, 198

WAIT FOR CALLS

MARKET ALERT ON MARCH 13 FRIDAY 9.55 PM IST

Book profit in MCX April copper at Rs 188.05.

sell was recommended at Rs 189.50 to 190.

MARKET ALERT ON MARCH 13 FRIDAY 9.45 PM IST

MCX April copper is expected to test Rs 185.20,

if it sustains below Rs 191.65.

Sell is advised around Rs 189.50 to 190 levels.

MARKET ALERT ON MARCH 13 FRIDAY 8.00 PM IST

Book profits in MCX April Copper at Rs 191.57.

Buy was recommended around Rs 190.70.

Copper could test Rs 194.50 and then Rs 196 if it holds

above Rs 192.

Support is seen at below Rs 189.50.

MARCH 13 FRIDAY

TRADING LEVELS FOR EVENING TRADE

S1 RS 188 , S2 RS 185 , S3 RS 182

R1 RS 191.60 , R2 RS 194, R3 RS 198

WAIT FOR CONFIRMATION.

MARKET ALERT ON MARCH 13 FRIDAY 4.30 PM IST

MCX April copper is expected to test Rs 194

if it sustains above Rs 187.50.

LME INVENTORY REPORT

Copper down 6700 mt

zinc down 2850 mt

lead down 75 mt

nickel down 84 mt

aluminium up 74925 mt

MARKET ALERT AT 11.30 PM MAR CH 13

EXIT FORM COPPER BUY AT CMP 188 AS NOT

ABLE TO SUSTAIN AT HIGHER LEVELS, WAIT

FOR FRESH CALL.

MARKET ALERT AT 10.30 AM

MCX APRIL COPPER CMP 189, IS LIKELY

TO MOVE AND TEST 193 LEVELS, SUPPORT

SEEN AT 186.80

MARCH 13 FRIDAY

TREND : DOWN

S1 RS 185.60 , S2 RS 183 , S3 RS 180.60

R1 RS 188.60 , R2 RS 190.60 , R3 RS 193

STAY SHORT AT RESISTACE.

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tanha par tanha na jaoge, dur rehkar bhi

tumhi pe nazar hai meri, Hatho se tham

lenge jab bhi thokar khaoge..

COPPER EXPECTED TO OPEN GAP UP THIS MORNING,

NIKKEI JAPAN MARKET 4 % ON EXPECTED

FURTHER STIMULUS PACKAGE TODAY

MARKET ALERT ON MAR 11 THURSDAY 11.25 PM IST

Book profit in MCX April copper at CMP Rs 187.70.

Buy was initiated at Rs 186 to Rs 186.30.

MARKET ALERT ON MAR 11 THURSDAY 10.50 PM IST

MCX April Copper is expected to test Rs 190 , if it

sustains above Rs 184.30.

Buy is recommended between Rs 186 to 186.30.

TECHNICALS FOR NYMEX TRADING MARCH 12

MCX APRIL COPPER

TREND ; SIDEWAYS TO DOWN

SUP[PORTS ;180.60, 177, 174

RES;184.60, 189, 193

HOLD SHORTS

MARKET ALERT ON MAR 11 THURSDAY 3.55 PM IST

Book partial profit in MCX copper at CMP Rs 182.30 or

stop loss to cost.

Sell was advised around Rs 184.10 levels.

MARKET ALERT AT 3 PM MARCH 1212

SELL COPPER 184.10, SL 186, TGT 181.

LME UPDATE

COPPER ; copper up 2450, zinc dn 2900

\nickel dn 144

MARKET ALERT AT 2 PM

EXIT SHORTS IN COPPER CMP 185.50 TILL

LME DATA , WAIT FOR FRESH CALL.

MARKET ALERT ON MAR 11 THURSDAY 10.30 AM IST

mcx Apr Copper is expected to test Rs 183 , if

it sustains below Rs 188.60.

TECHNICALS FOR MARCH 12

MCX APRIL COPPER

TREND ; SIDEWAYS

SUPPORTS ; 184.60, 183, 181

RES ; 188, 190.30, 193

WAIT FOR CALLS

MARKET ALERT AT 6.15 PM

MCX APRIL COPPER CMP 193.20 , TRADERS BOOK

PROFITS OR TRAIL STOPLOSS BELOW COST, BUY

INITIATED AT 191.35.

TECHNICALS FOR NYMEX TRADING MARCH 10

MCX APRIL COPPER

TREND ; UP INTRADAY

SUPPORTS ; 188, 185.60, 184

RES ; 191.30, 194, 197

HOLD LONGS FOR INTRADAY

MARKET ALERT ON MAR 10 WEDNESDAY 3.10 PM IST

MCX March copper could test Rs 196 and then

Rs 199.10 , if it sustains above Rs 187.80.

Buy is recommended above Rs 191.30.

LME INVENTORY ;

LME COPPER ; COPPER DN 6675, NICK DN 84

ZINC DN 1925 LEAD DN 250

MARKET ALERT AT 2 PM

TRADERS HOLDING SHORTS IN COPPER

AND NICKEL KINDLY EXIT POSITIONS AND

WAIT FOR LME INVENTORY AND FRESH POSITIONS.

MAR 10 WEDNESDAY

TREND : SIDEWAYS

S1 RS 186.40 , S2 RS 184.20 , S3 RS 182

R1 RS 189 , R2 RS 192 ,R3 RS 201

WAIT FOR CONFIRMATION.

MARKET ALERT AT 6.15 PM

APRIL COPPER CMP 187.75, LIKELY

TO MOVE DOWN AND TEST 184 LEVELS,

RESISTANCE AT 189.50

LME INVENTORY MARCH 9

COPPER DN 3325, NICK UP 366, ZINC UP 575,

LEAD UP 175, ALLUMINUM UP 6100

MARKET ALERT AT10.30 AM MARCH 9

MCX APRIL COPPER CMP 189.50,HAS

RESISTANCE AT 194, AND IMMEDIATE

SUOPPORT AT .187

TECHNICALS FOR MARCH 9

MCX APRIL COPPER

TREND ; SIDEWAYS TO UP

SUPPORTS ; 191.60, 188, 185

RES ; 194.60, 198, 201

HOLD LONGS AT SUPPORTS

MARKET ALERT AT 7.45 PM MARCH 6

COPPER IS BULLISH ABOVE 193.80 AND MAY

TEST 196, 198 ,HOLD LONGS WITH SL 191.80.

COPPER -3175 ZINC +2925 TIN -360 LEAD +525 ALUM +6300

MARKET ALERT ON MAR 6 FRIDAY 1.50 PM IST

mcx March copper is expected to test Rs 193.80,

if it sustains above Rs 188.30.

MARKET ALERT AT 10.30 AM

SELL MCX MARCH ALUMINIUM AT 66.90,

SL 67.80, TGT 65.40

SELL COPPER 188.60, SL 1891, TGT 184

TECHNICALS FOR MARCH 6

MCX APRIL CRUDE

TREND ; SIDEWYS TO UP

SUPPORTS ; 187.40, 184, 181

RESISTANCES : 191.80, 194.50, 198

HOLD LONGS

MARKET ALERT ON MAR 6 THURSDAY 8.55 PM IST

MCX March Copper is expeceted to test Rs 197 , if it

sustains above Rs 190.50.

TECHNICALS FOR NYMX TRADING MARCH 5

MCX APRIL COPPER

TREND ; UP

SUPPORTS ;190.60, 187, 184

RESISTANCES ; 194, 197, 200

HOLD LONGS

LME INVENTORY

COPPER DN 850

MARKET ALERT AT 12 NOON

MCX APRIL COPPER IS STRONG ABOVE

192.50 AND MAY TEST 198 LEVELS, SUPPORT

AT 188.40

TECHNICALS FOR MARCH 5

MCX APRIL COPPER

TREND ; UP

SUPPORTS ; 190.60, 188.30, 186

RESISTANCES ; 193.60, 196.60, 199

HOLD LONGS

MARKET ALERT ON MAR 5 WEDNESDAY 10.40 PM

POSITIONAL CALL

Mcx March could test Rs 198,

if it sustains above Rs 186.90

MARKET ALERT AT 9.50 PM

APRIL COPPER CMP 192.40 BOOK PROFITS OR TRAIL

SL TO COST

MARKET ALERT ON MAR 5 WEDESDAY 9.40 PM IST

MCX March copper is expectd to test Rs 194

if it sustains above Rs 187.80.

TRADERS MAY PLEASE EXIT LONGS AT CMP 183.70

TECHNICALS FOR MARCH 4

MCX APRIL COPPER

TREND ; UP

SUPPORTS ; 183.60, 180, 178

RESISTANCES ; 187, 190.50, 193

HOLD LONGS

MARKET ALERT AT 2.35 PM

BUY MCU APRIL COPPER AT 186.20 , TGT 190,

SL 183.70

MARKET ALERT AT 10.15 AM MARCH 4

TRADERS HOLDING LONGS IN COPPER ASPER

OUR BUY CALL FROM YESTERDAY AT 176.50 LEVELS,

CAN HOLD FOR INTIAL TGT 186.

MAR 4 WEDNESDAY

TREND : UP

SUPPORT 1 RS 181.50 , SUPPORT 2 RS 180 , SUPPORT 3 RS 178

RESISTANCE 1 RS 184.80 , R2 RS 186.80 , R3 RS 190

STAY LONG AT SUPPORT.

Copper prices were higher Tuesday after inventories in

London Metal Exchange warehouses fell again and as the

dollar remained relatively weak.

Copper for delivery in three months rose $135, or 4 percent,

to $3,520 a ton at 5:38 p.m. local time. The contract lost

54 percent in 2008.

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MARKET ALERT AT 10.15 PM

MCX APRIL COPPER CMP 183.30, OUR TRGETS ACHIEVED

FROM BUY THIS MORNING AT 176.50.

TRDEDERS HOLDING LONGS CAN HOLD FOR 184.30,

186 WITH STOP LOSS 180.80.

MARKET ALERT ON MAR 3 TUESDAY 5.40 PM IST

MCX April copper is expectd to test Rs 184.30,

if it sustains qabove Rs 178.80.

CMP Rs 181.

MARKET ALERT AT 5.15 PM

MCX APRIL COPPER CMP 181, BOOK FUUL PROFITS

TARGET ACHIEVED IN OUR BUY CALL AT 176.50.

TECHNICALS FOR NYMEX TRADING MARCH 3

MCX APRIL COPPER

TREND ; UP

SUPPORTS ; 178, 175, 171

RESISTANCES ; 182, 184, 188

STAY LONG

LME INVENTORY

COPPER DOWN 5800 MT

ZINC DOWN 2225

NICKEL UP 774

MARKET ALERT AT 2 PM

MCX APRIL COPPER CMP 178.75, BOOK PROFITS

OR TRAIL STOP LOSS TO COS, IN OUR BUY CALL

AT 176.50.

MARKET ALERT AT 10.40 AM

BUY MCX APRIL COPPER AT 176.50 ,TGT 181,

173.90.

TECHNICALS FOR MARCH 3

MCX APRILCOPPER

TREND ; SIDEWAYS

SUPPORTS ; 173,170, 167

RESISTANCES : 178.30, 180.40,183

WAIT FOR CONFIRMATION

Copper gained in New York as stockpiles of

the metal monitored by the London Metal

Exchange fell the most in more than four months.

Copper stockpiles monitored by the LME dropped

for a third straight session, declining 5,625 metric

tons, or 1 percent, the most since Oct. 21, the

exchange said today in a report.

Copper futures for May delivery rose 0.55 cent, or

0.4 percent, to $1.544 a pound at 9:59 a.m. on the

New York Mercantile Exchange’s Comex division. The

most-active contract climbed 7.4 percent last week,

the first gain in three.



Still, demand for the metal used in pipes and wires

may fall as the U.S. economy, the world’s biggest,

contracted at the steepest rate in more than 25 years

in the 2008 fourth quarter. In China, the biggest

user of the metal, manufacturing shrank for a seventh

month in February and Hong Kong’s exports tumbled 21.8

percent in January, the most in 50 years.


Dollar Strengthens

The dollar rose as investors sought refuge in the

world’s preferred reserve currency. Some investors

buy metals, such as copper, as an alternative to

holding stocks, bonds and currency.

TRADERS ADVISED NOT TO CARRY FORWARD

POSITIONS IN COPPER OVERNIGHT.

market alert at 8 pm

add fresh longs in april copper upto

176.10, for tgt 180.30, sl 173.90.

MARKET ALERT AT 7.10 PM

MCX APRIL COPPER CMP RS. 177.50, BOOK

PROFITS OR TRAIL STOPLOSS TO COST.

TECHNICALS FOR NYMEX TRADING

MARCH 2

MCX APRIL COPPER

TREND ; SIDEWAYS: LME INVENTORY DOWN TODAY

SUPPORTS 173, 170.30, 167

RESISTANCES ; 176.60, 180.60, 183

HOLD LONGS

MARKET ALERT AT 2,30 PM

LME UPDATE : COPPER DOWN 5625, NICKEL UP

222, ZINC DOWN 2375 , LEAD DOWN 25

MARKET ALERT AT 12NOON

BUYMCXAPRIL COPPER ABOVE 174.10

SL 171.40,TGT 178 TO 178.30.

TECHNICALS FOR MARCH 2

MCX APRIL COPPER

TREND : DOWN INTRADAY

SUPPORTS ; 173,170.30,168

RESISTANCES : 176, 180.50, 183


WAIT FOR FRESH CALL

Copper fell, snapping four days of gains, on

renewed concern demand will drop as fresh data

showed the global recession is deepening.

The U.S. economy shrank in the fourth quarter at

the steepest rate since 1982, the Commerce Department

said today. Consumer spending fell at the fastest

pace in almost 30 years. Japan’s manufacturers cut

production by a record last month and economic growth

slowed in India and Malaysia last quarter. Copper,

used in homes and cars, fell as much as 6.5 percent.

Copper futures for May delivery slipped 4.05 cents,

or 2.6 percent, to $1.5385 a pound on the New York

Mercantile Exchange’s Comex division. The most-active

contract climbed 7.4 percent for the week, the

first gain in three.


The revised 6.2 percent drop in U.S. gross domestic

product, on an annual basis, took analysts by surprise.

The median projection of 74 economists surveyed

by Bloomberg News was 5.4 percent.


Consumer spending tumbled at a 4.3 percent annual

pace last quarter, the sharpest rate of decline

since 1980, after falling at a 3.8 percent rate

the previous three months. That marks the first

back-to-back decreases of more than 3 percent

since record-keeping began in 1947.


Copper rose for the first four days of this week

on renewed investor optimism as governments planned

spending to stimulate the U.S., Chinese and

European economies.

Economic Outlook

Today’s U.S. economic data is “a wake-up call for

those expecting a recovery in 2009,” Chris Rupkey,

chief financial economist at Bank of Tokyo-Mitsubishi

UFJ Ltd. in New York, said in an e-mail. Copper has

plunged 60 percent in the past 12 months as slumping

housing markets, mounting job losses and declining

manufacturing strangled global economic growth.

The metal will average $1.275 a pound this year as

production outpaces demand, Deutsche Bank AG forecasts.

That’s 60 percent lower than last year’s average

price of about $3.18 in New York.
\

“We believe copper is the most exposed of the industrial


metals in an environment where real-economy data

deteriorates further,” analysts at Deutsche said

in a report today.


Confidence among U.S. consumers fell for the first

time in three months in February, the Reuters/University

of Michigan index showed today. U.S. business

activity contracted in February for a fifth consecutive

month, the Institute for Supply Management-Chicago

Inc. said.

“Businesses and consumers are refusing to spend,

and until they come off the sidelines, the economy

is at risk for further declines,” Rupkey of Bank

of Tokyo-Mitsubishi said.

On the London Metal Exchange, copper for delivery in

three months slid $51, or 1.5 percent, to $3,449 a

metric ton ($1.56 a pound). The price reached a

record $8,940 on July 2.