Copper dips on sluggish US demand
07/01/2015 12:17
Copper prices fell by 0.08 per cent on Wednesday at the domestic markets after services activity in the US cooled in December while factory orders declined in November, signaling a slowdown in the world’s biggest economy, dimming the demand outlook for the metal.
The ISM’s services gauge fell to a six-month low of 56.2 last month from 59.3 in November, with a reading above 50 signaling expansion. US factory orders fell for a fourth straight month, down 0.7 per cent in November, indicating a manufacturing slowdown.
At the MCX, copper futures for February 2015 contract were trading at Rs.391.35 per 1 kg, down by 0.08 per cent, after opening at Rs. 391.70 against the previous closing price of Rs. 391.65. It touched the intra-day low of Rs. 389.75 till the trading. (At 12.12 PM today).
07/01/2015 12:17
Copper prices fell by 0.08 per cent on Wednesday at the domestic markets after services activity in the US cooled in December while factory orders declined in November, signaling a slowdown in the world’s biggest economy, dimming the demand outlook for the metal.
The ISM’s services gauge fell to a six-month low of 56.2 last month from 59.3 in November, with a reading above 50 signaling expansion. US factory orders fell for a fourth straight month, down 0.7 per cent in November, indicating a manufacturing slowdown.
At the MCX, copper futures for February 2015 contract were trading at Rs.391.35 per 1 kg, down by 0.08 per cent, after opening at Rs. 391.70 against the previous closing price of Rs. 391.65. It touched the intra-day low of Rs. 389.75 till the trading. (At 12.12 PM today).
