China factory weakness hits Copper
20/11/2014 11:37
Copper futures fell in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal after China’s manufacturing activity failed to grow this month, signaling a deepening economic slowdown in the world’s biggest metals consumer, clouding the demand outlook for copper.
HSBC China manufacturing PMI hit a six-month low of 50 in November, signaling no change in manufacturing activity over the previous month, when the reading stood at 50.4.
At the MCX, copper futures for November 2014 contract is trading at Rs. 415.65 per 1 kg, down by 0.29 per cent, after opening at Rs. 416, against the previous closing price of Rs. 416.85. It touched an intra-day low of Rs. 415.40. (At 11:25 AM).
20/11/2014 11:37
Copper futures fell in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal after China’s manufacturing activity failed to grow this month, signaling a deepening economic slowdown in the world’s biggest metals consumer, clouding the demand outlook for copper.
HSBC China manufacturing PMI hit a six-month low of 50 in November, signaling no change in manufacturing activity over the previous month, when the reading stood at 50.4.
At the MCX, copper futures for November 2014 contract is trading at Rs. 415.65 per 1 kg, down by 0.29 per cent, after opening at Rs. 416, against the previous closing price of Rs. 416.85. It touched an intra-day low of Rs. 415.40. (At 11:25 AM).
