Commodities falter as US Retail Sales decline...

Against the market expectation of a 0.1% fall, the US retail sales for the month of March declined by 0.4%; its highest in the last nine months. 

The US retail and food services for the month of March stood at $418.3 billion, a drop of 0.4 percent from February, but was 2.8 percent higher from March 2012. Retail sales for the months January and February, 2013 were revised to 1.0% from 1.1% while the auto and other motor vehicle dealers were up by 7.4% year-on-year.

In a separate report compiled by Thomson Reuters/ University of Michigan the preliminary index of consumer sentiment declined from 78.6 in March to 72.3 in the April. The decline in the consumer sentiment index refers to a decline in the consumer spending. 

On the MCX Copper for its April end contract closed at Rs. 404.65, down by 1.76 percent form its previous closing price of Rs. 411.90. The red metal made a high of Rs.413.90 and a low of Rs.402.85, while its open interest stood at 30905 lots.

COMEX Copper was down by 2.43% at 335 USD/lb for its May 13 contract. At the LME warehouse stock for Copper increased by 3475 tons to 593650 tons.