China manufacturing data lifts Copper
23/09/2014 11:49
Copper futures rose in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal tracking a firm trend in the overseas market as manufacturing in China, the world’s biggest metals user, expanded at a sharper clip this month, easing concerns over a slowdown in the world’s second biggest economy, lifting the demand outlook for industrial metals. HSBC said that its gauge measuring China manufacturing climbed to 50.5 in September from 50.2 in August, with a reading above 50 signaling expansion. At the MCX, copper futures for November 2014 contract is trading at Rs. 416.80 per 1 kg, up by 0.43 per cent, after opening at Rs. 415.90, against the previous closing price of Rs. 415. It touched an intra-day high of Rs. 417. (At 11:30 AM).
23/09/2014 11:49
Copper futures rose in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal tracking a firm trend in the overseas market as manufacturing in China, the world’s biggest metals user, expanded at a sharper clip this month, easing concerns over a slowdown in the world’s second biggest economy, lifting the demand outlook for industrial metals. HSBC said that its gauge measuring China manufacturing climbed to 50.5 in September from 50.2 in August, with a reading above 50 signaling expansion. At the MCX, copper futures for November 2014 contract is trading at Rs. 416.80 per 1 kg, up by 0.43 per cent, after opening at Rs. 415.90, against the previous closing price of Rs. 415. It touched an intra-day high of Rs. 417. (At 11:30 AM).
