Copper futures dip on profit booking
02/07/2014 11:38
Copper futures fell in the domestic market on Wednesday as investors and speculators booked profits in the industrial metal after a recent sharp rally. A rise in copper stockpiles also signaled weakening demand for the base metal, weighing on sentiment. Copper stockpiles monitored by the LME in Asia rose the most since September 2013, up 5.2 per cent to 13,175 tons on Tuesday. At the MCX, copper futures for August 2014 contract is trading at Rs. 426.75 per 1 kg, down by 0.22 per cent, after opening at Rs. 427.25, against the previous closing price of Rs. 427.70. It touched an intra-day low of Rs. 426.20. (At 11:24 AM).
02/07/2014 11:38
Copper futures fell in the domestic market on Wednesday as investors and speculators booked profits in the industrial metal after a recent sharp rally. A rise in copper stockpiles also signaled weakening demand for the base metal, weighing on sentiment. Copper stockpiles monitored by the LME in Asia rose the most since September 2013, up 5.2 per cent to 13,175 tons on Tuesday. At the MCX, copper futures for August 2014 contract is trading at Rs. 426.75 per 1 kg, down by 0.22 per cent, after opening at Rs. 427.25, against the previous closing price of Rs. 427.70. It touched an intra-day low of Rs. 426.20. (At 11:24 AM).
