Copper futures higher on upbeat US data
04/07/2014 11:45
Copper futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal as robust US data signaled a pickup in the world’s biggest economy, lifting the demand outlook for industrial metals. American employers added 288,000 jobs in June, up from 224,000 in the previous month as the jobless rate slid to 6.1 per cent from 6.3 per cent in May. The ISM Services PMI stood at 56 in June, compared to 56.3 in the previous month, with a reading above 50 signaling expansion. At the MCX, copper futures for August 2014 contract is trading at Rs. 435.30 per 1 kg, up by 0.16 per cent, after opening at Rs. 434.55, against the previous closing price of Rs. 434.60. It touched an intra-day high of Rs. 435.50. (At 11:17 AM).
04/07/2014 11:45
Copper futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal as robust US data signaled a pickup in the world’s biggest economy, lifting the demand outlook for industrial metals. American employers added 288,000 jobs in June, up from 224,000 in the previous month as the jobless rate slid to 6.1 per cent from 6.3 per cent in May. The ISM Services PMI stood at 56 in June, compared to 56.3 in the previous month, with a reading above 50 signaling expansion. At the MCX, copper futures for August 2014 contract is trading at Rs. 435.30 per 1 kg, up by 0.16 per cent, after opening at Rs. 434.55, against the previous closing price of Rs. 434.60. It touched an intra-day high of Rs. 435.50. (At 11:17 AM).
