Robust China data fails to boost Copper
13/10/2014 11:44
Copper futures fell in the domestic market on Monday as investors and speculators exited positions in the industrial metal amid fears of a renewed recession in Germany, Europe’s biggest economy after exports plunged the most since January 2009 in August 2014, clouding the demand outlook for copper. However, a pickup in China’s export growth last month eased fears of a slowdown in the world’s second biggest economy, trimming losses in the base metal. China’s exports climbed 15.3 per cent, year on year in September, surpassing estimates of a 12 per cent rise. At the MCX, copper futures for November 2014 contract is trading at Rs. 413.70 per 1 kg, down by 0.17 per cent, after opening at Rs. 413.10, against the previous closing price of Rs. 414.40. It touched an intra-day low of Rs. 412.70. (At 11:30 AM).
13/10/2014 11:44
Copper futures fell in the domestic market on Monday as investors and speculators exited positions in the industrial metal amid fears of a renewed recession in Germany, Europe’s biggest economy after exports plunged the most since January 2009 in August 2014, clouding the demand outlook for copper. However, a pickup in China’s export growth last month eased fears of a slowdown in the world’s second biggest economy, trimming losses in the base metal. China’s exports climbed 15.3 per cent, year on year in September, surpassing estimates of a 12 per cent rise. At the MCX, copper futures for November 2014 contract is trading at Rs. 413.70 per 1 kg, down by 0.17 per cent, after opening at Rs. 413.10, against the previous closing price of Rs. 414.40. It touched an intra-day low of Rs. 412.70. (At 11:30 AM).
