Upbeat China demand outlook lifts Copper futures
06/01/2015 12:02
Copper prices rose by 0.33 per cent on Tuesday at the domestic markets after China's services sector grew at its fastest pace in three months in December as new orders remained strong, a private survey showed, an encouraging sign of strength even as manufacturing activity slows and the property market softens which raised the demand outlook for the metal. At the MCX, copper futures for February 2015 contract were trading at Rs.392.90 per 1 kg, up by 0.33 per cent, after opening at Rs. 393.05 against the previous closing price of Rs. 391.60. It touched the intra-day low of Rs. 391.85 till the trading. (At 11.57 AM 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 1400 metric tonnes to 178425 metric tonnes as on January 5, 2015.
06/01/2015 12:02
Copper prices rose by 0.33 per cent on Tuesday at the domestic markets after China's services sector grew at its fastest pace in three months in December as new orders remained strong, a private survey showed, an encouraging sign of strength even as manufacturing activity slows and the property market softens which raised the demand outlook for the metal. At the MCX, copper futures for February 2015 contract were trading at Rs.392.90 per 1 kg, up by 0.33 per cent, after opening at Rs. 393.05 against the previous closing price of Rs. 391.60. It touched the intra-day low of Rs. 391.85 till the trading. (At 11.57 AM 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 1400 metric tonnes to 178425 metric tonnes as on January 5, 2015.
