Sluggish China demand drags down Copper futures
13/01/2015 12:20
Copper prices fell by 0.58 per cent on Tuesday at the domestic markets as deepening factory-gate deflation in China, the world’s biggest metals consumer, threatened to curb demand for copper. Producer prices in China extended a record run of declines, tumbling by the most in two years in December 2014, down for the 34th straight month, declining 3.3 per cent from the same month a year ago. At the MCX, copper futures for February 2015 contract were trading at Rs.374.90 per 1 kg, down by 0.58 per cent, after opening at Rs. 375.60 against the previous closing price of Rs. 377.10. It touched the intra-day low of Rs. 374.45 till the trading. (At 12.02 PM today).
Moreover, the first decline in German industrial output in three months in November signaled a faltering recovery in Europe’s biggest economy, clouding the metal’s demand prospects
13/01/2015 12:20
Copper prices fell by 0.58 per cent on Tuesday at the domestic markets as deepening factory-gate deflation in China, the world’s biggest metals consumer, threatened to curb demand for copper. Producer prices in China extended a record run of declines, tumbling by the most in two years in December 2014, down for the 34th straight month, declining 3.3 per cent from the same month a year ago. At the MCX, copper futures for February 2015 contract were trading at Rs.374.90 per 1 kg, down by 0.58 per cent, after opening at Rs. 375.60 against the previous closing price of Rs. 377.10. It touched the intra-day low of Rs. 374.45 till the trading. (At 12.02 PM today).
Moreover, the first decline in German industrial output in three months in November signaled a faltering recovery in Europe’s biggest economy, clouding the metal’s demand prospects
