Copper gains despite weak China data
02/02/2015 11:45
Copper prices rose by 0.01 per cent on Monday at the domestic markets in spite of downbeat manufacturing reports on China. The HSBC January manufacturing PMI us came in at 49.7, lower than the flash estimate of 49.8. In the week ahead, investors will be turning their attention to Friday’s U.S. nonfarm payrolls report for further indications on the strength of the recovery in the labor market. At the MCX, copper futures for February 2015 contract were trading at Rs.342.90 per 1 kg, up by 0.01 per cent, after opening at Rs. 343.05 against the previous closing price of Rs. 342.85. It touched the intra-day high of Rs. 344 till the trading. (At 11.29 AM today).
02/02/2015 11:45
Copper prices rose by 0.01 per cent on Monday at the domestic markets in spite of downbeat manufacturing reports on China. The HSBC January manufacturing PMI us came in at 49.7, lower than the flash estimate of 49.8. In the week ahead, investors will be turning their attention to Friday’s U.S. nonfarm payrolls report for further indications on the strength of the recovery in the labor market. At the MCX, copper futures for February 2015 contract were trading at Rs.342.90 per 1 kg, up by 0.01 per cent, after opening at Rs. 343.05 against the previous closing price of Rs. 342.85. It touched the intra-day high of Rs. 344 till the trading. (At 11.29 AM today).
