China home price slide hits Copper
18/11/2014 11:43
Copper futures fell in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal as a stronger dollar curbed the demand for copper as an alternative asset. Stronger greenback makes copper more expensive for those holding other currencies, thus dimming demand. New home prices in China fell in all but one city tracked by a government survey, in October, the second straight decline, signaling a deepening economic slowdown in the world’s biggest metals consumer, darkening the demand outlook for the base metal. At the MCX, copper futures for November 2014 contract is trading at Rs. 414.10 per 1 kg, down by 0.23 per cent, after opening at Rs. 414.65, against the previous closing price of Rs. 415.05. It touched an intra-day low of Rs. 413.65. (At 11:29 AM).
18/11/2014 11:43
Copper futures fell in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal as a stronger dollar curbed the demand for copper as an alternative asset. Stronger greenback makes copper more expensive for those holding other currencies, thus dimming demand. New home prices in China fell in all but one city tracked by a government survey, in October, the second straight decline, signaling a deepening economic slowdown in the world’s biggest metals consumer, darkening the demand outlook for the base metal. At the MCX, copper futures for November 2014 contract is trading at Rs. 414.10 per 1 kg, down by 0.23 per cent, after opening at Rs. 414.65, against the previous closing price of Rs. 415.05. It touched an intra-day low of Rs. 413.65. (At 11:29 AM).
