Copper higher on China stimulus hopes
26/03/2015 11:27
Copper futures rose in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal as contraction of manufacturing in China, the world’s biggest metals consumer, in March, raised bets of further stimulus measures to spur a growth rebound, lifting the demand outlook for industrial metals. The International Copper Study Group sees copper market to have posted a deficit in 2014 of 475,000 metric ton, signaling supply concerns. At the MCX, Copper futures for April 2015 contract is trading at Rs 390.10 per 1 kg, up by 0.76 per cent after opening at Rs 387.80, against the previous closing price of Rs 387.15. It touched the intra-day high of Rs 390.85 till the closing. (At 11:08 AM).
26/03/2015 11:27
Copper futures rose in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal as contraction of manufacturing in China, the world’s biggest metals consumer, in March, raised bets of further stimulus measures to spur a growth rebound, lifting the demand outlook for industrial metals. The International Copper Study Group sees copper market to have posted a deficit in 2014 of 475,000 metric ton, signaling supply concerns. At the MCX, Copper futures for April 2015 contract is trading at Rs 390.10 per 1 kg, up by 0.76 per cent after opening at Rs 387.80, against the previous closing price of Rs 387.15. It touched the intra-day high of Rs 390.85 till the closing. (At 11:08 AM).
