LONDON (Commodity Online): Copper prices rose Friday. ?This was a day with some more positive news starting with lower Chinese inflation figures and a good uptake in the Greek bond swap,? said Triland Metals in a briefing.
?Chinese industrial production and retail sales showed some slowing but not to dangerous levels. Later, U.S. job figures gave new confidence as non-farm jobs rose more (than) expected (+227,000) and previous month numbers were revised upwards substantially,? they added.
According to Triland Metals, the softer Chinese inflation data means room for more monetary easing in the country, and the private-sector participation in the Greek bond swap improved risk sentiment overnight. The jobs report reflected favorably on U.S. economic conditions and thus demand for copper LME three-months copper rose $170 to $8,500 per metric ton.
Comex May copper settled up 6.70 cents to $3.8585 per pound. All of the other LME base metals also finished higher.
MCX Mentha Oil 31 March 2012 contract was trading at Rs 1314.5 , up Rs. 2.6 . What's your view on it?
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