US factory slowdown weighs on Copper
31/03/2015 12:58
Copper futures fell in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal after a regional manufacturing gauge in the US plunged deep into contraction territory in the month of March, signaling a worsening slowdown in American factories, darkening the demand outlook for copper.
The gauge measuring Texas manufacturing activity fell to -17.4 in March from -11.2 in the previous month, with a reading below zero signaling contraction.
At the MCX, Copper futures for April 2015 contract is trading at Rs 381.90 per 1 kg, down by 0.77 per cent after opening at Rs 384.10, against the previous closing price of Rs 384.85. It touched the intra-day low of Rs 381.55. (At 12:33 PM).
31/03/2015 12:58
Copper futures fell in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal after a regional manufacturing gauge in the US plunged deep into contraction territory in the month of March, signaling a worsening slowdown in American factories, darkening the demand outlook for copper.
The gauge measuring Texas manufacturing activity fell to -17.4 in March from -11.2 in the previous month, with a reading below zero signaling contraction.
At the MCX, Copper futures for April 2015 contract is trading at Rs 381.90 per 1 kg, down by 0.77 per cent after opening at Rs 384.10, against the previous closing price of Rs 384.85. It touched the intra-day low of Rs 381.55. (At 12:33 PM).
