Copper gains on upbeat German data
27/01/2015 12:04
Copper prices rose by 0.75 per cent on Tuesday at the domestic markets after German business confidence improved to the highest level in six months in January, easing concerns over the health of the euro zone’s largest economy which raised the demand outlook for the metal. German research institute, Ifo said its Business Climate Index rose to a seasonally adjusted 106.7 this month, above forecasts for 106.3 and up from a reading of 105.5 in December. At the MCX, copper futures for February 2015 contract were trading at Rs.343.90 per 1 kg, up by 0.75 per cent, after opening at Rs. 343 against the previous closing price of Rs. 341.35. It touched the intra-day high of Rs. 345.60 till the trading. (At 11.45 AM today).
27/01/2015 12:04
Copper prices rose by 0.75 per cent on Tuesday at the domestic markets after German business confidence improved to the highest level in six months in January, easing concerns over the health of the euro zone’s largest economy which raised the demand outlook for the metal. German research institute, Ifo said its Business Climate Index rose to a seasonally adjusted 106.7 this month, above forecasts for 106.3 and up from a reading of 105.5 in December. At the MCX, copper futures for February 2015 contract were trading at Rs.343.90 per 1 kg, up by 0.75 per cent, after opening at Rs. 343 against the previous closing price of Rs. 341.35. It touched the intra-day high of Rs. 345.60 till the trading. (At 11.45 AM today).
