Copper futures little changed on China
concerns
24/12/2014 10:44
Copper futures were trading flat in the domestic market on Wednesday as investors and speculators stayed cautious over booking fresh positions in the industrial metal amid concerns that a slowing Chinese economy, the largest user of the metal, may curb demand for copper, early in 2015.
However, a pickup in the US economy supported the demand outlook for copper. The world’s biggest economy grew at the fastest pace since 2003, expanding at an annual rate of 5 per cent in the July-September 2014 quarter.
At the MCX, Copper futures for February 2015 contract is trading at Rs 406.25 per 1 kg, down by 0.01 per cent after opening at Rs 405.95, against the previous closing price of Rs 406.30. It touched the intra-day low of Rs 405.65 till the closing. (At 10:33 AM).
24/12/2014 10:44
Copper futures were trading flat in the domestic market on Wednesday as investors and speculators stayed cautious over booking fresh positions in the industrial metal amid concerns that a slowing Chinese economy, the largest user of the metal, may curb demand for copper, early in 2015.
However, a pickup in the US economy supported the demand outlook for copper. The world’s biggest economy grew at the fastest pace since 2003, expanding at an annual rate of 5 per cent in the July-September 2014 quarter.
At the MCX, Copper futures for February 2015 contract is trading at Rs 406.25 per 1 kg, down by 0.01 per cent after opening at Rs 405.95, against the previous closing price of Rs 406.30. It touched the intra-day low of Rs 405.65 till the closing. (At 10:33 AM).
