Copper gains on strong US data
16/01/2015 12:30
Copper prices rose by 0.17 per cent on Friday at the domestic markets after New York Federal Reserve’s index of manufacturing conditions improved at a faster rate than expected in January, easing concerns over the strength of the economy which raised the demand outlook for the metal. Federal Reserve Bank of New York said that its general business conditions index increased to 10.0 this month from a reading of -3.6 in December. Analysts had expected the index to rise to 5.0 in January.
At the MCX, copper futures for February 2015 contract were trading at Rs.352.80 per 1 kg, up by 0.17 per cent, after opening at Rs. 353.50 against the previous closing price of Rs. 352.20. It touched the intra-day high of Rs. 355.20 till the trading. (At 11.55 AM today).
16/01/2015 12:30
Copper prices rose by 0.17 per cent on Friday at the domestic markets after New York Federal Reserve’s index of manufacturing conditions improved at a faster rate than expected in January, easing concerns over the strength of the economy which raised the demand outlook for the metal. Federal Reserve Bank of New York said that its general business conditions index increased to 10.0 this month from a reading of -3.6 in December. Analysts had expected the index to rise to 5.0 in January.
At the MCX, copper futures for February 2015 contract were trading at Rs.352.80 per 1 kg, up by 0.17 per cent, after opening at Rs. 353.50 against the previous closing price of Rs. 352.20. It touched the intra-day high of Rs. 355.20 till the trading. (At 11.55 AM today).
