Upbeat German demand outlook boosts Copper
25/11/2014 11:55
Copper futures rose in the domestic market on Tuesday as investors and speculators booked fresh positions in the base metal amid a pickup in physical demand for copper in the domestic spot market.
Business confidence in Germany rose for the first time in seven months in November, signaling a revival in Europe’s biggest economy, bolstering the demand outlook for industrial metals. The gauge measuring German business confidence rose to 104.7 this month from 103.2 in October.
At the MCX, copper futures for November 2014 contract is trading at Rs. 411.60 per 1 kg, up by 0.34 per cent, after opening at Rs. 411, against the previous closing price of Rs. 410.20. It touched an intra-day high of Rs. 411.95. (At 11:36 AM).
25/11/2014 11:55
Copper futures rose in the domestic market on Tuesday as investors and speculators booked fresh positions in the base metal amid a pickup in physical demand for copper in the domestic spot market.
Business confidence in Germany rose for the first time in seven months in November, signaling a revival in Europe’s biggest economy, bolstering the demand outlook for industrial metals. The gauge measuring German business confidence rose to 104.7 this month from 103.2 in October.
At the MCX, copper futures for November 2014 contract is trading at Rs. 411.60 per 1 kg, up by 0.34 per cent, after opening at Rs. 411, against the previous closing price of Rs. 410.20. It touched an intra-day high of Rs. 411.95. (At 11:36 AM).
