Copper gains on strong buying interest
15/01/2015 15:55
Copper prices rose by 1.40 per cent on Thursday at the domestic markets as investors returned to the market to seek cheap valuations one day after prices fell to the lowest level. Investors looked ahead to weekly data on initial jobless claims, as well as reports on producer prices and manufacturing activity in the Philadelphia region, for further indications on the strength of the economy. At the MCX, copper futures for June 2014 contract were trading at Rs.350.50 per 1 kg, up by 1.40 per cent, after opening at Rs. 347 against the previous closing price of Rs. 345.65. It touched the intra-day high of Rs. 353.40 till the trading. (At 4.15 PM today). However, gains were curbed due to the surge in the copper stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME copper stocks rose by 4725 metric tonnes to 198725 metric tonnes as on Jan 15, 2015
15/01/2015 15:55
Copper prices rose by 1.40 per cent on Thursday at the domestic markets as investors returned to the market to seek cheap valuations one day after prices fell to the lowest level. Investors looked ahead to weekly data on initial jobless claims, as well as reports on producer prices and manufacturing activity in the Philadelphia region, for further indications on the strength of the economy. At the MCX, copper futures for June 2014 contract were trading at Rs.350.50 per 1 kg, up by 1.40 per cent, after opening at Rs. 347 against the previous closing price of Rs. 345.65. It touched the intra-day high of Rs. 353.40 till the trading. (At 4.15 PM today). However, gains were curbed due to the surge in the copper stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME copper stocks rose by 4725 metric tonnes to 198725 metric tonnes as on Jan 15, 2015
