Copper prices slipped on Thursday due to the absence of strong fundamentals. The metal was seen ignored by the traders on lack of demand.
MCX Copper expiry contract is trading at Rs 164.7 per kg as against Rs 165.45 on Wednesday. Supports for the contract are at 162 and 160 levels while Resistances are at 167.70 levels.
LME Copper closed the Wednesday's session at $ 3389 per ton up $ 159. LME inventories data showed yet another rise in Copper by 4650 tons to 499950 tons.
Buying interest from Chinese copper traders and consumers have gradually picked up after the Lunar New Year holidays with China entering the peak demand season.
