Downbeat Euro area outlook drags down Copper
05/12/2014 11:20
Copper futures fell in the domestic market on Friday as investors and speculators exited positions in the industrial metal after the ECB cut its growth and inflation forecasts for the 18-member Euro area economy, dimming the demand outlook for copper. The ECB cut its growth forecasts for the Euro area economy to 0.8 per cent in 2014 and 1 per cent next year, from 1.1 per cent and 1.6 per cent, respectively predicted earlier. It cut its inflation forecast for the region to 0.5 per cent in 2014 from 1.1 per cent predicted a year earlier. At the MCX, Copper futures for February 2015 contract is trading at Rs. 403.10 per 1 kg, down by 0.20 per cent, after opening at Rs. 403.30, against the previous closing price of Rs. 403.90. It touched an intra-day low of Rs 402.40. (At 11:04 AM).
05/12/2014 11:20
Copper futures fell in the domestic market on Friday as investors and speculators exited positions in the industrial metal after the ECB cut its growth and inflation forecasts for the 18-member Euro area economy, dimming the demand outlook for copper. The ECB cut its growth forecasts for the Euro area economy to 0.8 per cent in 2014 and 1 per cent next year, from 1.1 per cent and 1.6 per cent, respectively predicted earlier. It cut its inflation forecast for the region to 0.5 per cent in 2014 from 1.1 per cent predicted a year earlier. At the MCX, Copper futures for February 2015 contract is trading at Rs. 403.10 per 1 kg, down by 0.20 per cent, after opening at Rs. 403.30, against the previous closing price of Rs. 403.90. It touched an intra-day low of Rs 402.40. (At 11:04 AM).
