Copper dips on weak euro zone data
01/12/2014 15:21
Copper prices fell by 1.18 per cent on Monday at the domestic markets after research group Markit said the euro zone’s manufacturing PMI fell to 50.1, from 50.4 in the preceding month signaling weak manufacturing activity in the region which reduced the demand outlook for the metal. At the MCX, copper futures for February 2015 contract were trading at Rs.393.70 per 1 kg, down by 1.18 per cent, after opening at Rs. 396.10 against the previous closing price of Rs. 398.40. It touched the intra-day low of Rs. 390.40 till the trading. (At 3.20 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 500 metric tonnes to 164800 metric tonnes as on December 1, 2014.
01/12/2014 15:21
Copper prices fell by 1.18 per cent on Monday at the domestic markets after research group Markit said the euro zone’s manufacturing PMI fell to 50.1, from 50.4 in the preceding month signaling weak manufacturing activity in the region which reduced the demand outlook for the metal. At the MCX, copper futures for February 2015 contract were trading at Rs.393.70 per 1 kg, down by 1.18 per cent, after opening at Rs. 396.10 against the previous closing price of Rs. 398.40. It touched the intra-day low of Rs. 390.40 till the trading. (At 3.20 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 500 metric tonnes to 164800 metric tonnes as on December 1, 2014.
