China stimulus lifts Copper
29/12/2014 11:15
Copper futures rose in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal after reports suggested that China’s central bank eased rules for calculation of deposits and reserve requirements, allowing lenders to make more loans to boost credit growth and help spur a revival in the world’s second biggest economy, lifting the demand outlook for copper.
Further, Japan approved a USD 29 billion stimulus package to help revive the recession-hit economy, bolstering the demand outlook for base metals.
At the MCX, Copper futures for February 2015 contract is trading at Rs 403.30 per 1 kg, up by 0.71 per cent after opening at Rs 401.45, against the previous closing price of Rs 400.45. It touched the intra-day high of Rs 403.65 till the closing. (At 11:05 AM).
29/12/2014 11:15
Copper futures rose in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal after reports suggested that China’s central bank eased rules for calculation of deposits and reserve requirements, allowing lenders to make more loans to boost credit growth and help spur a revival in the world’s second biggest economy, lifting the demand outlook for copper.
Further, Japan approved a USD 29 billion stimulus package to help revive the recession-hit economy, bolstering the demand outlook for base metals.
At the MCX, Copper futures for February 2015 contract is trading at Rs 403.30 per 1 kg, up by 0.71 per cent after opening at Rs 401.45, against the previous closing price of Rs 400.45. It touched the intra-day high of Rs 403.65 till the closing. (At 11:05 AM).
