Copper gains on global demand prospects
19/11/2014 16:47
Copper prices rose by 0.62 per cent on Wednesday at the domestic markets in the midst of speculation policymakers around the world will have to introduce further stimulus measures to support the global economy and boost growth. At the MCX, copper futures for November 2014 contract were trading at Rs.411.80 per 1 kg, up by 0.62 per cent, after opening at Rs. 411 against the previous closing price of Rs. 409.25. It touched the intra-day high of Rs. 411.95 till the trading. (At 4.15 PM today).
However, gains were curbed due to the surge in the copper stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME copper stocks rose by 400 metric tonnes to 160825 metric tonnes as on November 19, 2014.
Meanwhile, investors looked ahead to the minutes of the Federal Reserve’s October meeting, due out later in the day, for any clues on the possible timing of an interest rate increase.
19/11/2014 16:47
Copper prices rose by 0.62 per cent on Wednesday at the domestic markets in the midst of speculation policymakers around the world will have to introduce further stimulus measures to support the global economy and boost growth. At the MCX, copper futures for November 2014 contract were trading at Rs.411.80 per 1 kg, up by 0.62 per cent, after opening at Rs. 411 against the previous closing price of Rs. 409.25. It touched the intra-day high of Rs. 411.95 till the trading. (At 4.15 PM today).
However, gains were curbed due to the surge in the copper stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME copper stocks rose by 400 metric tonnes to 160825 metric tonnes as on November 19, 2014.
Meanwhile, investors looked ahead to the minutes of the Federal Reserve’s October meeting, due out later in the day, for any clues on the possible timing of an interest rate increase.
