Copper gains prior to US GDP report
25/11/2014 16:29
Copper prices rose by 0.21 per cent on Tuesday at the domestic markets as market players looked ahead to the release of revised US third quarter growth data due later in the session. US economic growth in the third quarter is expected to be revised down to 3.3 per cent, compared to an initial estimate of 3.5 per cent. 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 4.25 PM today).
However, gains were limited 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 1350 metric tonnes to 163200 metric tonnes as on November 25, 2014
25/11/2014 16:29
Copper prices rose by 0.21 per cent on Tuesday at the domestic markets as market players looked ahead to the release of revised US third quarter growth data due later in the session. US economic growth in the third quarter is expected to be revised down to 3.3 per cent, compared to an initial estimate of 3.5 per cent. 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 4.25 PM today).
However, gains were limited 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 1350 metric tonnes to 163200 metric tonnes as on November 25, 2014
