Weak China data weighs on Copper
10/12/2014 11:56
Copper futures fell in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal after China’s producer prices extended a decline while consumer inflation eased, signaling weak demand in the world’s second biggest economy, darkening the demand outlook for the base metal.
Producer prices fell 2.7 per cent, year on year in November 2014 while consumer inflation slowed to 1.4 per cent from 1.6 per cent in October.
At the MCX, copper futures for February 2015 contract is trading at Rs. 405.15 per 1 kg, down by 0.31 per cent, after opening at Rs. 405, against the previous closing price of Rs. 406.4. It touched an intra-day low of Rs. 403.9. (At 11:44 AM).
10/12/2014 11:56
Copper futures fell in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal after China’s producer prices extended a decline while consumer inflation eased, signaling weak demand in the world’s second biggest economy, darkening the demand outlook for the base metal.
Producer prices fell 2.7 per cent, year on year in November 2014 while consumer inflation slowed to 1.4 per cent from 1.6 per cent in October.
At the MCX, copper futures for February 2015 contract is trading at Rs. 405.15 per 1 kg, down by 0.31 per cent, after opening at Rs. 405, against the previous closing price of Rs. 406.4. It touched an intra-day low of Rs. 403.9. (At 11:44 AM).
