Copper dips on downbeat demand prospects
03/12/2014 16:35
Copper prices fell by 0.37 per cent on Wednesday at the domestic markets after Markit Economics said that French Services PMI fell to a seasonally adjusted 47.9, from 48.8 in the preceding month signaling weak sentiment in the region which reduced the demand outlook for the metal.
At the MCX, copper futures for February 2015 contract were trading at Rs.399.25 per 1 kg, down by 0.37 per cent, after opening at Rs. 399.90 against the previous closing price of Rs. 400.75. It touched the intra-day low of Rs. 397.30 till the trading. (At 4.25 PM today).
Sentiment weakened further due to the surge in the copper stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME copper stocks rose by 1225 metric tonnes to 166025 metric tonnes as on December 3, 2014.
03/12/2014 16:35
Copper prices fell by 0.37 per cent on Wednesday at the domestic markets after Markit Economics said that French Services PMI fell to a seasonally adjusted 47.9, from 48.8 in the preceding month signaling weak sentiment in the region which reduced the demand outlook for the metal.
At the MCX, copper futures for February 2015 contract were trading at Rs.399.25 per 1 kg, down by 0.37 per cent, after opening at Rs. 399.90 against the previous closing price of Rs. 400.75. It touched the intra-day low of Rs. 397.30 till the trading. (At 4.25 PM today).
Sentiment weakened further due to the surge in the copper stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME copper stocks rose by 1225 metric tonnes to 166025 metric tonnes as on December 3, 2014.
