Although the concerns over the Europe debt crisis troubles spreading to French banks and gloomy US economic concerns remained in the market, metals were trading upwards in mid morning session. The huge sell off over the last few days underpinned the buying in metal futures. Weakening US dollar also supported the metals. The dollar index tumbled by 0.35% at 74.51 against the basket of 6 major currencies during the midday on lingering worries over the US economic recovery. In domestic market at MCX, Copper for delivery in August surged up by 2.23% or Rs. 8.75 at Rs. 400.45 per kg with its high at Rs. 401.5 per kg. The open interest dipped by 13.6% to 18,163 lots and volume traded as of now stood at 32,127 lots against 156,209 lots trade last day. Aluminium was trading at Rs. 108.45 per kg, up 0.7% and Lead surged by 1.78% or Rs. 1.85 at Rs. 105.75 per kg. MCX Zinc was seen trading higher by 2.25% or Rs. 2.15 at Rs. 97.75 per kg and Nickel strengthened by 1.28% or Rs. 12.4 at Rs. 978.7 per kg. At the SHFE, Copper futures for most active October contract was trading at 66780 yuan per tonne, down 150 yuan. Comex Copper futures for most active September contract was trading at $4.0055 a pound, up by 12 cents from $ 3.01 during the previous day.

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