China housing data drags down Copper
18/12/2014 11:50
Copper futures fell in the domestic market on Thursday as investors and speculators exited positions in the industrial metal amid weak physical demand for copper in the domestic spot market. New home prices in China, the world’s biggest metals consumer, fell last month, signaling a bearish demand outlook for copper. New home prices in China in November declined in 67 out of the 70 cities covered by a government survey. At the MCX, copper futures for February 2015 contract is trading at Rs. 405.20 per 1 kg, down by 0.48 per cent, after opening at Rs. 406.25, against the previous closing price of Rs. 407.15. It touched an intra-day low of Rs. 405.05. (At 11:40 AM).
18/12/2014 11:50
Copper futures fell in the domestic market on Thursday as investors and speculators exited positions in the industrial metal amid weak physical demand for copper in the domestic spot market. New home prices in China, the world’s biggest metals consumer, fell last month, signaling a bearish demand outlook for copper. New home prices in China in November declined in 67 out of the 70 cities covered by a government survey. At the MCX, copper futures for February 2015 contract is trading at Rs. 405.20 per 1 kg, down by 0.48 per cent, after opening at Rs. 406.25, against the previous closing price of Rs. 407.15. It touched an intra-day low of Rs. 405.05. (At 11:40 AM).
