Copper drops on weak Japan retail sales
29/01/2015 12:24
Copper prices fell by 0.74 per cent on Thursday at the domestic markets after Japanese retail sales fell unexpectedly last month signaling weak sentiment in the region which reduced the demand outlook for the metal. In a report, the Ministry of Economy Trade and Industry said that retail sales fell to a seasonally adjusted annual rate of 0.2 per cent, from 0.4 per cent in the preceding month. At the MCX, copper futures for February 2015 contract were trading at Rs.335.25 per 1 kg, down by 0.74 per cent, after opening at Rs. 337.35 against the previous closing price of Rs. 337.75. It touched the intra-day low of Rs. 334.95 till the trading. (At 11.52 AM today).
29/01/2015 12:24
Copper prices fell by 0.74 per cent on Thursday at the domestic markets after Japanese retail sales fell unexpectedly last month signaling weak sentiment in the region which reduced the demand outlook for the metal. In a report, the Ministry of Economy Trade and Industry said that retail sales fell to a seasonally adjusted annual rate of 0.2 per cent, from 0.4 per cent in the preceding month. At the MCX, copper futures for February 2015 contract were trading at Rs.335.25 per 1 kg, down by 0.74 per cent, after opening at Rs. 337.35 against the previous closing price of Rs. 337.75. It touched the intra-day low of Rs. 334.95 till the trading. (At 11.52 AM today).
