Copper higher on robust China import jump
13/04/2015 12:30
Copper futures rose in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal after China’s imports of copper climbed 46 per cent to 410,000 tonnes in March 2015 from 280,000 tonnes in the previous month, as demand for the base metal in the world’s biggest metals consumer picked up after the Lunar New Year Holiday.
However, investors cast aside data which showed that overall imports slid 12.7 per cent, year on year in March 2015, signaling soft domestic demand in the world’s second biggest economy.
At the MCX, copper futures for April 2015 contract were trading at Rs.379.4 per 1 kg, up by 0.64 per cent, after opening at Rs. 378.2 against the previous closing price of Rs. 377. It touched the intra-day high of Rs. 379.60 till the trading. (At 12:02 PM today).
13/04/2015 12:30
Copper futures rose in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal after China’s imports of copper climbed 46 per cent to 410,000 tonnes in March 2015 from 280,000 tonnes in the previous month, as demand for the base metal in the world’s biggest metals consumer picked up after the Lunar New Year Holiday.
However, investors cast aside data which showed that overall imports slid 12.7 per cent, year on year in March 2015, signaling soft domestic demand in the world’s second biggest economy.
At the MCX, copper futures for April 2015 contract were trading at Rs.379.4 per 1 kg, up by 0.64 per cent, after opening at Rs. 378.2 against the previous closing price of Rs. 377. It touched the intra-day high of Rs. 379.60 till the trading. (At 12:02 PM today).
