Copper falls on weak global cues
28/07/2014 11:42
Copper prices was trading flat on Monday at the domestic markets due to a mixed reading on the health of U.S. business investment which suggested the economy may not have rebounded as strongly in the second quarter as previously believed, but it offered hope for the rest of 2014. At the MCX, copper futures for August 2014 contract were trading at Rs.431.90 per 1 kg, down by 0.01 per cent, after opening at Rs. 431.35 against the previous closing price of Rs. 431.95. It touched the intra-day low of Rs. 431.35 till the trading. (At 11.24 AM today).
However, losses were curbed due to the decline in the copper stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME copper stocks fell by 1750 metric tonnes to 152600 metric tonnes as on July 25, 2014.
28/07/2014 11:42
Copper prices was trading flat on Monday at the domestic markets due to a mixed reading on the health of U.S. business investment which suggested the economy may not have rebounded as strongly in the second quarter as previously believed, but it offered hope for the rest of 2014. At the MCX, copper futures for August 2014 contract were trading at Rs.431.90 per 1 kg, down by 0.01 per cent, after opening at Rs. 431.35 against the previous closing price of Rs. 431.95. It touched the intra-day low of Rs. 431.35 till the trading. (At 11.24 AM today).
However, losses were curbed due to the decline in the copper stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME copper stocks fell by 1750 metric tonnes to 152600 metric tonnes as on July 25, 2014.
