Copper lower amid subdued China demand outlook
11/11/2014 11:44
Copper futures were trading lower in the domestic market on Tuesday as investors and speculators stayed cautious over booking fresh positions in the industrial metal amid fears that a slowing Chinese economy may curb the demand for copper in the world’s biggest metals consumer. China’s year on year export growth slowed to 11.6 per cent in October 2014 from 15.3 per cent in September 2014 while annual consumer inflation was flat at 1.6 per cent, signaling weak demand. At the MCX, copper futures for November 2014 contract is trading at Rs. 411 per 1 kg, down by 0.15 per cent, after opening at Rs. 411.25, against the previous closing price of Rs. 411.60. It touched an intra-day low of Rs. 410.35. (At 11:33 AM).
11/11/2014 11:44
Copper futures were trading lower in the domestic market on Tuesday as investors and speculators stayed cautious over booking fresh positions in the industrial metal amid fears that a slowing Chinese economy may curb the demand for copper in the world’s biggest metals consumer. China’s year on year export growth slowed to 11.6 per cent in October 2014 from 15.3 per cent in September 2014 while annual consumer inflation was flat at 1.6 per cent, signaling weak demand. At the MCX, copper futures for November 2014 contract is trading at Rs. 411 per 1 kg, down by 0.15 per cent, after opening at Rs. 411.25, against the previous closing price of Rs. 411.60. It touched an intra-day low of Rs. 410.35. (At 11:33 AM).
