Copper gains on upbeat German jobs data
27/11/2014 16:38
Copper prices rose by 0.21 per cent on Thursday at the domestic markets after the number of unemployed people in Germany declined for the second consecutive month in November, while the country’s jobless rate held steady at a record low which indicated improving labor market in the region which raised the demand prospects for the metal.
At the MCX, copper futures for November 2014 contract were trading at Rs.411.05 per 1 kg, up by 0.21 per cent, after opening at Rs. 411 against the previous closing price of Rs. 410.20. It touched the intra-day high of Rs. 413.30 till the trading. (At 4.37 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 175 metric tonnes to 161950 metric tonnes as on November 27, 2014.
27/11/2014 16:38
Copper prices rose by 0.21 per cent on Thursday at the domestic markets after the number of unemployed people in Germany declined for the second consecutive month in November, while the country’s jobless rate held steady at a record low which indicated improving labor market in the region which raised the demand prospects for the metal.
At the MCX, copper futures for November 2014 contract were trading at Rs.411.05 per 1 kg, up by 0.21 per cent, after opening at Rs. 411 against the previous closing price of Rs. 410.20. It touched the intra-day high of Rs. 413.30 till the trading. (At 4.37 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 175 metric tonnes to 161950 metric tonnes as on November 27, 2014.
