Slight weakness in the UK’s economy and increase in stockpiles drags
copper
23/12/2014 16:43
Copper future declined by 0.41 percent at the domestic commodity indices as after the UK’s economy showed a slight downfall in the third quarter. The UK’s economy grew by 0.7 percent in the Q3 (July-September), slowing slightly from a revised 0.8 percent between Q2 (April-June). The sentiment weakened further after the stock supplies of the base metal rose at the London Metal Exchange (LME). LME copper stocks rose by 3525 metric tonnes to 172225 metric tonnes as on December 23, 2014. At the MCX, Copper futures, for the February 2015 contract, is trading at Rs 405.15 per kg, down by 0.41 per cent, after opening at Rs 4061.0, against a previous close of Rs 406.80. It touched an intra-day low of Rs 405.05 till the trading. (At 4.47 PM today).'
23/12/2014 16:43
Copper future declined by 0.41 percent at the domestic commodity indices as after the UK’s economy showed a slight downfall in the third quarter. The UK’s economy grew by 0.7 percent in the Q3 (July-September), slowing slightly from a revised 0.8 percent between Q2 (April-June). The sentiment weakened further after the stock supplies of the base metal rose at the London Metal Exchange (LME). LME copper stocks rose by 3525 metric tonnes to 172225 metric tonnes as on December 23, 2014. At the MCX, Copper futures, for the February 2015 contract, is trading at Rs 405.15 per kg, down by 0.41 per cent, after opening at Rs 4061.0, against a previous close of Rs 406.80. It touched an intra-day low of Rs 405.05 till the trading. (At 4.47 PM today).'
