Copper gains on China stimulus hopes
30/03/2015 16:08
Copper prices rose by 0.04 per cent on Monday at the domestic markets in the midst of speculation policymakers in China will do more to support growth, but gains were limited as the dollar pushed higher. People's Bank of China Governor Zhou Xiaochuan said that China's government had to be "vigilant" against the risk of disinflation and suggested that policymakers had "room to act" to boost sluggish growth.
At the MCX, copper futures for April 2015 contract were trading at Rs.385 per 1 kg, up by 0.04 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. 387 till the trading. (At 4.12 PM today).
Sentiment improved further 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 2575 metric tonnes to 337175 metric tonnes as on March 27, 2015
30/03/2015 16:08
Copper prices rose by 0.04 per cent on Monday at the domestic markets in the midst of speculation policymakers in China will do more to support growth, but gains were limited as the dollar pushed higher. People's Bank of China Governor Zhou Xiaochuan said that China's government had to be "vigilant" against the risk of disinflation and suggested that policymakers had "room to act" to boost sluggish growth.
At the MCX, copper futures for April 2015 contract were trading at Rs.385 per 1 kg, up by 0.04 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. 387 till the trading. (At 4.12 PM today).
Sentiment improved further 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 2575 metric tonnes to 337175 metric tonnes as on March 27, 2015
