China factory slump hits Copper
01/12/2014 11:39
Copper futures slumped in the domestic market on Monday as investors and speculators exited positions in the industrial metal after China’s manufacturing slowed sharply last month, signaling a worsening economic slowdown in the world’s biggest metals consumer, dimming the demand outlook for the base metal. China’s manufacturing gauge fell to an eight-month low of 50.3 in November from 50.8 in October. At the MCX, copper futures for February 2014 contract is trading at Rs. 391.60 per 1 kg, down by 1.72 per cent, after opening at Rs. 396.10, against the previous closing price of Rs. 398.40. It touched an intra-day low of Rs. 391.15. (At 11:28 AM).
01/12/2014 11:39
Copper futures slumped in the domestic market on Monday as investors and speculators exited positions in the industrial metal after China’s manufacturing slowed sharply last month, signaling a worsening economic slowdown in the world’s biggest metals consumer, dimming the demand outlook for the base metal. China’s manufacturing gauge fell to an eight-month low of 50.3 in November from 50.8 in October. At the MCX, copper futures for February 2014 contract is trading at Rs. 391.60 per 1 kg, down by 1.72 per cent, after opening at Rs. 396.10, against the previous closing price of Rs. 398.40. It touched an intra-day low of Rs. 391.15. (At 11:28 AM).
