Sluggish global demand drags down Copper futures
07/10/2014 16:14
Copper prices fell by 0.19 per cent on Tuesday at the domestic markets after the gauge measuring Euro area investor confidence fell to -13.7 this month from -9.8 in September, Sentix said signaling improving sentiment in the Euro area, dimming the demand outlook for the metal. At the MCX, copper futures for November 2014 contract were trading at Rs.415.45 per 1 kg, down by 0.19 per cent, after opening at Rs. 416.30 against the previous closing price of Rs. 416.25. It touched the intra-day low of Rs. 414.60 till the trading. (At 4.10 PM today). Sentiment weakened further after the World Bank cut China’s economic growth forecast for 2014 and 2015 to 7.4 per cent and 7.2 per cent, respectively, from 7.6 per cent and 7.5 per cent previously.
07/10/2014 16:14
Copper prices fell by 0.19 per cent on Tuesday at the domestic markets after the gauge measuring Euro area investor confidence fell to -13.7 this month from -9.8 in September, Sentix said signaling improving sentiment in the Euro area, dimming the demand outlook for the metal. At the MCX, copper futures for November 2014 contract were trading at Rs.415.45 per 1 kg, down by 0.19 per cent, after opening at Rs. 416.30 against the previous closing price of Rs. 416.25. It touched the intra-day low of Rs. 414.60 till the trading. (At 4.10 PM today). Sentiment weakened further after the World Bank cut China’s economic growth forecast for 2014 and 2015 to 7.4 per cent and 7.2 per cent, respectively, from 7.6 per cent and 7.5 per cent previously.
