Copper dips on bearish US demand outlook
27/03/2015 16:11
Copper prices fell by 0.41 per cent on Friday at the domestic markets as a regional manufacturing gauge in the US dived into contraction territory this month, signaling a worsening slowdown in the world’s second biggest economy, darkening the demand outlook for industrial metals. The Federal Reserve Bank of Kansas said that its regional manufacturing gauge fell to -2 in March from 5 in February with a reading below 0 signaling contraction. At the MCX, copper futures for April 2015 contract were trading at Rs.383.80 per 1 kg, up by 0.41 per cent, after opening at Rs. 384.20 against the previous closing price of Rs. 382.25. It touched the intra-day high of Rs. 385.30 till the trading. (At 4.15 PM today).
However, losses were curbed due to the decline in the copper stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME copper stocks fell by 2425 metric tonnes to 337175 metric tonnes as on March 27, 2015
27/03/2015 16:11
Copper prices fell by 0.41 per cent on Friday at the domestic markets as a regional manufacturing gauge in the US dived into contraction territory this month, signaling a worsening slowdown in the world’s second biggest economy, darkening the demand outlook for industrial metals. The Federal Reserve Bank of Kansas said that its regional manufacturing gauge fell to -2 in March from 5 in February with a reading below 0 signaling contraction. At the MCX, copper futures for April 2015 contract were trading at Rs.383.80 per 1 kg, up by 0.41 per cent, after opening at Rs. 384.20 against the previous closing price of Rs. 382.25. It touched the intra-day high of Rs. 385.30 till the trading. (At 4.15 PM today).
However, losses were curbed due to the decline in the copper stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME copper stocks fell by 2425 metric tonnes to 337175 metric tonnes as on March 27, 2015
