China stimulus hopes lift Copper
30/03/2015 12:22
Copper futures rose in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal after China’s central bank Governor Zhou Xiaochuan stressed that the Chinese government has room to help boost growth in the world’s second biggest economy, lifting the demand outlook for copper.
China is the world’s biggest copper consumer, accounting for about 40 per cent of total global copper consumption.
Even as he warned that China’s economic growth has plunged “a bit” too much, China’s central bank chief said that policymakers have ample leeway to respond, fanning speculation of further monetary easing.
At the MCX, Copper futures for April 2015 contract is trading at Rs 385.50 per 1 kg, up by 0.17 per cent after opening at Rs 384.45, against the previous closing price of Rs 384.85. It touched the intra-day high of Rs 386.90. (At 11:58 AM).
30/03/2015 12:22
Copper futures rose in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal after China’s central bank Governor Zhou Xiaochuan stressed that the Chinese government has room to help boost growth in the world’s second biggest economy, lifting the demand outlook for copper.
China is the world’s biggest copper consumer, accounting for about 40 per cent of total global copper consumption.
Even as he warned that China’s economic growth has plunged “a bit” too much, China’s central bank chief said that policymakers have ample leeway to respond, fanning speculation of further monetary easing.
At the MCX, Copper futures for April 2015 contract is trading at Rs 385.50 per 1 kg, up by 0.17 per cent after opening at Rs 384.45, against the previous closing price of Rs 384.85. It touched the intra-day high of Rs 386.90. (At 11:58 AM).
