Disappointing China data weighs on Copper
12/12/2014 11:45
Copper futures fell in the domestic market on Friday as investors and speculators exited positions in the industrial metal after China’s industrial output grew at a weaker pace in November, signaling a deepening economic slowdown in the world’s biggest metals consumer, clouding the demand outlook for copper.
Factory output grew 7.2 per cent, year on year in November 2014, the lowest pace of growth in three months, and missing the 7.5 per cent gain estimated by analysts.
At the MCX, copper futures for February 2015 contract is trading at Rs. 408.15 per 1 kg, down by 0.12 per cent, after opening at Rs. 409.15, against the previous closing price of Rs. 408.65. It touched an intra-day low of Rs. 407.95. (At 11:33 AM).
12/12/2014 11:45
Copper futures fell in the domestic market on Friday as investors and speculators exited positions in the industrial metal after China’s industrial output grew at a weaker pace in November, signaling a deepening economic slowdown in the world’s biggest metals consumer, clouding the demand outlook for copper.
Factory output grew 7.2 per cent, year on year in November 2014, the lowest pace of growth in three months, and missing the 7.5 per cent gain estimated by analysts.
At the MCX, copper futures for February 2015 contract is trading at Rs. 408.15 per 1 kg, down by 0.12 per cent, after opening at Rs. 409.15, against the previous closing price of Rs. 408.65. It touched an intra-day low of Rs. 407.95. (At 11:33 AM).
