Upbeat US data lifts Copper
26/12/2014 10:25
Copper futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal as American applications for claiming unemployment benefits fell to a seven-week low last week, signaling an improving labour market recovery in the world’s biggest economy, lifting the demand outlook for base metals.
US jobless claims fell by 9,000 to the lowest level since early November at 280,000 in the week ended December 20, 2014.
At the MCX, Copper futures for February 2015 contract is trading at Rs 405.60 per 1 kg, up by 0.36 per cent after opening at Rs 404.6, against the previous closing price of Rs 404.2. It touched the intra-day high of Rs 406.2 till the closing. (At 10:14 AM
26/12/2014 10:25
Copper futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal as American applications for claiming unemployment benefits fell to a seven-week low last week, signaling an improving labour market recovery in the world’s biggest economy, lifting the demand outlook for base metals.
US jobless claims fell by 9,000 to the lowest level since early November at 280,000 in the week ended December 20, 2014.
At the MCX, Copper futures for February 2015 contract is trading at Rs 405.60 per 1 kg, up by 0.36 per cent after opening at Rs 404.6, against the previous closing price of Rs 404.2. It touched the intra-day high of Rs 406.2 till the closing. (At 10:14 AM
