Copper drops on bearish US data
29/04/2015 12:40
Copper prices eased by 0.53 per cent on Wednesday after recent data showed that US consumer confidence deteriorated unexpectedly in April, falling to a four-month low indicating weak sentiment in US, world’s largest economy which reduced the demand outlook for the industrial metal.
At the MCX, copper futures for April 2015 contract were trading at Rs.384.90 per 1 kg, down by 0.53 per cent, after opening at Rs. 385 against the previous closing price of Rs. 386.95. It touched the intra-day low of Rs. 384.35 till the trading. (At 12.18 PM today).
The Conference Board, a market research group said its index of consumer confidence fell to 95.2 this month from a reading of 101.4 in March, whose figure was revised from a previously reported 101.3. Analysts expected the index to increase to 102.5 in April.
29/04/2015 12:40
Copper prices eased by 0.53 per cent on Wednesday after recent data showed that US consumer confidence deteriorated unexpectedly in April, falling to a four-month low indicating weak sentiment in US, world’s largest economy which reduced the demand outlook for the industrial metal.
At the MCX, copper futures for April 2015 contract were trading at Rs.384.90 per 1 kg, down by 0.53 per cent, after opening at Rs. 385 against the previous closing price of Rs. 386.95. It touched the intra-day low of Rs. 384.35 till the trading. (At 12.18 PM today).
The Conference Board, a market research group said its index of consumer confidence fell to 95.2 this month from a reading of 101.4 in March, whose figure was revised from a previously reported 101.3. Analysts expected the index to increase to 102.5 in April.
