Copper gains on strong demand outlook
26/11/2014 16:16
Copper prices rose by 0.22 per cent on Wednesday at the domestic markets after French consumer confidence rose more-than-expected last month signaling improving sentiment in the region which raised the demand outlook for the metal. INSEE said that French Consumer Confidence rose to 87, from 85 in the preceding month. At the MCX, copper futures for November 2014 contract were trading at Rs.404.85 per 1 kg, up by 0.22 per cent, after opening at Rs. 404.60 against the previous closing price of Rs. 403.95. It touched the intra-day high of Rs. 406.80 till the trading. (At 4.20 PM today). Sentiment improved further due to the decline in the copper stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME copper stocks fell by 1075 metric tonnes to 162125 metric tonnes as on November 26, 2014.
26/11/2014 16:16
Copper prices rose by 0.22 per cent on Wednesday at the domestic markets after French consumer confidence rose more-than-expected last month signaling improving sentiment in the region which raised the demand outlook for the metal. INSEE said that French Consumer Confidence rose to 87, from 85 in the preceding month. At the MCX, copper futures for November 2014 contract were trading at Rs.404.85 per 1 kg, up by 0.22 per cent, after opening at Rs. 404.60 against the previous closing price of Rs. 403.95. It touched the intra-day high of Rs. 406.80 till the trading. (At 4.20 PM today). Sentiment improved further due to the decline in the copper stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME copper stocks fell by 1075 metric tonnes to 162125 metric tonnes as on November 26, 2014.
