Upbeat US GDP data lifts Copper
26/11/2014 11:41
Copper futures rose in the domestic market on Wednesday as investors and speculators booked fresh positions in the base metal amid a pickup in physical demand for copper in the domestic spot market. Sentiment was also boosted after the US economy grew at a faster than initially estimated pace in the third quarter, lifting the demand outlook for industrial metals. US Q3 GDP growth was upwardly revised from 3.5 per cent to 3.9 per cent. At the MCX, copper futures for November 2014 contract is trading at Rs. 405 per 1 kg, up by 0.26 per cent, after opening at Rs. 404.60, against the previous closing price of Rs. 403.95. It touched an intra-day high of Rs. 405.85. (At 11:30 AM).
26/11/2014 11:41
Copper futures rose in the domestic market on Wednesday as investors and speculators booked fresh positions in the base metal amid a pickup in physical demand for copper in the domestic spot market. Sentiment was also boosted after the US economy grew at a faster than initially estimated pace in the third quarter, lifting the demand outlook for industrial metals. US Q3 GDP growth was upwardly revised from 3.5 per cent to 3.9 per cent. At the MCX, copper futures for November 2014 contract is trading at Rs. 405 per 1 kg, up by 0.26 per cent, after opening at Rs. 404.60, against the previous closing price of Rs. 403.95. It touched an intra-day high of Rs. 405.85. (At 11:30 AM).
