Weak euro area data drags down Copper futures
09/01/2015 16:00
Copper prices fell by 1.05 per cent on Friday at the domestic markets after German exports fell sharply in November and industrial output also declined, suggesting Europe's largest economy ended 2014 on a weak note which reduced the demand outlook for the metal. Seasonally-adjusted exports dropped for a second consecutive month, dipping 2.1 percent, while imports pushed up 1.5 percent, narrowing the trade surplus to 17.7 billion euros. At the MCX, copper futures for February 2015 contract were trading at Rs.381.45 per 1 kg, down by 1.05 per cent, after opening at Rs. 385.05 against the previous closing price of Rs. 385.50. It touched the intra-day low of Rs. 381.40 till the trading. (At 4.00 PM today).
Sentiment weakened further 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 8250 metric tonnes to 187475 metric tonnes as on Jan 9, 2015
09/01/2015 16:00
Copper prices fell by 1.05 per cent on Friday at the domestic markets after German exports fell sharply in November and industrial output also declined, suggesting Europe's largest economy ended 2014 on a weak note which reduced the demand outlook for the metal. Seasonally-adjusted exports dropped for a second consecutive month, dipping 2.1 percent, while imports pushed up 1.5 percent, narrowing the trade surplus to 17.7 billion euros. At the MCX, copper futures for February 2015 contract were trading at Rs.381.45 per 1 kg, down by 1.05 per cent, after opening at Rs. 385.05 against the previous closing price of Rs. 385.50. It touched the intra-day low of Rs. 381.40 till the trading. (At 4.00 PM today).
Sentiment weakened further 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 8250 metric tonnes to 187475 metric tonnes as on Jan 9, 2015
