Copper dips ahead of Fed, China easing hopes support
28/04/2015 16:19
Copper prices fell on Tuesday as investors awaited hints on monetary policy from the Federal Reserve. A recent run of disappointing U.S. economic data dampened optimism over the recovery; fuelling speculation the Fed could delay hiking interest rates until late 2015, instead of tightening midyear. However, Futures remained supported in the midst of speculation policymakers in China will have to introduce further stimulus measures to jumpstart the economy amid lackluster growth. At the MCX, copper futures for April 2015 contract were trading at Rs. 385.10 per 1 kg, down by 0.66 per cent, after opening at Rs. 386.20 against the previous closing price of Rs. 387.65. It touched the intra-day low of Rs. 384.15 till the trading. (At 4.18 PM today).
Losses were limited 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 1950 metric tonnes to 237000 metric tonnes as on April 28, 2015.
28/04/2015 16:19
Copper prices fell on Tuesday as investors awaited hints on monetary policy from the Federal Reserve. A recent run of disappointing U.S. economic data dampened optimism over the recovery; fuelling speculation the Fed could delay hiking interest rates until late 2015, instead of tightening midyear. However, Futures remained supported in the midst of speculation policymakers in China will have to introduce further stimulus measures to jumpstart the economy amid lackluster growth. At the MCX, copper futures for April 2015 contract were trading at Rs. 385.10 per 1 kg, down by 0.66 per cent, after opening at Rs. 386.20 against the previous closing price of Rs. 387.65. It touched the intra-day low of Rs. 384.15 till the trading. (At 4.18 PM today).
Losses were limited 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 1950 metric tonnes to 237000 metric tonnes as on April 28, 2015.
