US demand hopes lift Copper
14/11/2014 11:38
Copper futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal ahead of US retail sales data which may show a mild rebound in sales last month after a 0.3 per cent contraction in September. However, the gains in copper were curbed by a worsening demand outlook in China after year on year industrial output growth slowed to 7.7 per cent in October 2014 from 8 per cent in September 2014. At the MCX, copper futures for November 2014 contract is trading at Rs. 407.70 per 1 kg, up by 0.15 per cent, after opening at Rs. 407.70, against the previous closing price of Rs. 407.10. It touched an intra-day high of Rs. 409.10. (At 11:27 AM).
14/11/2014 11:38
Copper futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal ahead of US retail sales data which may show a mild rebound in sales last month after a 0.3 per cent contraction in September. However, the gains in copper were curbed by a worsening demand outlook in China after year on year industrial output growth slowed to 7.7 per cent in October 2014 from 8 per cent in September 2014. At the MCX, copper futures for November 2014 contract is trading at Rs. 407.70 per 1 kg, up by 0.15 per cent, after opening at Rs. 407.70, against the previous closing price of Rs. 407.10. It touched an intra-day high of Rs. 409.10. (At 11:27 AM).
