Copper drops on weak China data
01/01/2015 11:40
Copper prices fell by 0.11 per cent on Thursday at the domestic markets after activity in China's factory sector shrank for the first time in seven months in December, a private survey showed on Wednesday which reduced the demand outlook for the metal. The final HSBC/Markit Purchasing Managers' Index (PMI) for December came in at 49.6, just below the 50.0 level that separates growth from contraction. At the MCX, copper futures for February 2015 contract were trading at Rs.398.65 per 1 kg, down by 0.11 per cent, after opening at Rs. 399.75 against the previous closing price of Rs. 399.10. It touched the intra-day high of Rs. 400.50 till the trading. (At 11.39 PM today).
01/01/2015 11:40
Copper prices fell by 0.11 per cent on Thursday at the domestic markets after activity in China's factory sector shrank for the first time in seven months in December, a private survey showed on Wednesday which reduced the demand outlook for the metal. The final HSBC/Markit Purchasing Managers' Index (PMI) for December came in at 49.6, just below the 50.0 level that separates growth from contraction. At the MCX, copper futures for February 2015 contract were trading at Rs.398.65 per 1 kg, down by 0.11 per cent, after opening at Rs. 399.75 against the previous closing price of Rs. 399.10. It touched the intra-day high of Rs. 400.50 till the trading. (At 11.39 PM today).
