Copper rises on improved demand
28/01/2015 16:12
Copper prices rose by 0.31 per cent on Wednesday at the domestic markets after Germany’s Gfk consumer climate rose more-than-expected last month, data showed on Wednesday indicating improving sentiment in the region which raised the demand for the metal. In a report, research group Gfk said that its index of Germany’s consumer climate rose to 9.3, from 9.0 in the preceding month. At the MCX, copper futures for February 2015 contract were trading at Rs.337.05 per 1 kg, up by 0.31 per cent, after opening at Rs. 337 against the previous closing price of Rs. 336. It touched the intra-day high of Rs. 339.35 till the trading. (At 4.05 PM today).
However, gains were limited 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 6450 metric tonnes to 244675 metric tonnes as on January 28, 2015.
28/01/2015 16:12
Copper prices rose by 0.31 per cent on Wednesday at the domestic markets after Germany’s Gfk consumer climate rose more-than-expected last month, data showed on Wednesday indicating improving sentiment in the region which raised the demand for the metal. In a report, research group Gfk said that its index of Germany’s consumer climate rose to 9.3, from 9.0 in the preceding month. At the MCX, copper futures for February 2015 contract were trading at Rs.337.05 per 1 kg, up by 0.31 per cent, after opening at Rs. 337 against the previous closing price of Rs. 336. It touched the intra-day high of Rs. 339.35 till the trading. (At 4.05 PM today).
However, gains were limited 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 6450 metric tonnes to 244675 metric tonnes as on January 28, 2015.
