Copper drops on weak US housing data
30/01/2015 12:16
Copper prices fell by 0.82 per cent on Friday at the domestic markets after the pending home sales in the U.S. fell unexpectedly in December, raising concerns over the health of the housing sector which reduced the demand prospects for the industrial metal. The National Association of Realtors said its pending home sales index decreased by a seasonally adjusted 3.7 per cent last month, disappointing expectations for a 0.5 per cent gain. At the MCX, copper futures for February 2015 contract were trading at Rs.334.50 per 1 kg, down by 0.82 per cent, after opening at Rs. 336 against the previous closing price of Rs. 337.25. It touched the intra-day low of Rs. 334.05 till the trading. (At 11.52 AM today).
30/01/2015 12:16
Copper prices fell by 0.82 per cent on Friday at the domestic markets after the pending home sales in the U.S. fell unexpectedly in December, raising concerns over the health of the housing sector which reduced the demand prospects for the industrial metal. The National Association of Realtors said its pending home sales index decreased by a seasonally adjusted 3.7 per cent last month, disappointing expectations for a 0.5 per cent gain. At the MCX, copper futures for February 2015 contract were trading at Rs.334.50 per 1 kg, down by 0.82 per cent, after opening at Rs. 336 against the previous closing price of Rs. 337.25. It touched the intra-day low of Rs. 334.05 till the trading. (At 11.52 AM today).
