Copper dips on weak US NAHB Housing data
21/01/2015 12:08
Copper prices fell by 0.94 per cent on Wednesday at the domestic markets after National Association of Home Builders/Wells Fargo housing market index declined unexpectedly in January signaling weak housing market in the region which reduced the demand outlook for the industrial metal. NAHB said that its Housing Market Index decreased to 57.0 this month from 58.0 in December. Analysts expected the index to hold steady at 58.0 in January. At the MCX, copper futures for February 2015 contract were trading at Rs.352.50 per 1 kg, down by 0.94 per cent, after opening at Rs. 354.05 against the previous closing price of Rs. 355.85. It touched the intra-day high of Rs. 354.25 till the trading. (At 11.55 AM today).
21/01/2015 12:08
Copper prices fell by 0.94 per cent on Wednesday at the domestic markets after National Association of Home Builders/Wells Fargo housing market index declined unexpectedly in January signaling weak housing market in the region which reduced the demand outlook for the industrial metal. NAHB said that its Housing Market Index decreased to 57.0 this month from 58.0 in December. Analysts expected the index to hold steady at 58.0 in January. At the MCX, copper futures for February 2015 contract were trading at Rs.352.50 per 1 kg, down by 0.94 per cent, after opening at Rs. 354.05 against the previous closing price of Rs. 355.85. It touched the intra-day high of Rs. 354.25 till the trading. (At 11.55 AM today).
