Copper futures up on China factory data
01/07/2014 12:00
Copper futures rose in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal amid hopes that a rebound in China’s economy may boost the demand for the base metal, given that China is the world’s biggest copper consumer.
The official China manufacturing index rose to 51 this month from 50.8 in May, with a reading above 50 signaling expansion.
At the MCX, copper futures for August 2014 contract is trading at Rs. 429.60 per 1 kg, up by 0.16 per cent, after opening at Rs. 429.85, against the previous closing price of Rs. 428.90. It touched an intra-day high of Rs. 430.40. (At 11:46 AM).
01/07/2014 12:00
Copper futures rose in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal amid hopes that a rebound in China’s economy may boost the demand for the base metal, given that China is the world’s biggest copper consumer.
The official China manufacturing index rose to 51 this month from 50.8 in May, with a reading above 50 signaling expansion.
At the MCX, copper futures for August 2014 contract is trading at Rs. 429.60 per 1 kg, up by 0.16 per cent, after opening at Rs. 429.85, against the previous closing price of Rs. 428.90. It touched an intra-day high of Rs. 430.40. (At 11:46 AM).
