Copper surges on China stimulus expectations
27/04/2015 16:19
Copper prices rose by 0.57 per cent on Monday at the domestic markets in the midst of speculation policymakers in China will have to introduce further stimulus measures to jump start the economy amid lackluster growth which raised the demand outlook for the metal.
At the MCX, copper futures for April 2015 contract were trading at Rs.387.35 per 1 kg, up by 0.58 per cent, after opening at Rs. 386.95 against the previous closing price of Rs. 385.10. It touched the intra-day high of Rs. 388.80 till the trading. (At 4.25 PM today).
However, gains were curbed due to the surge in the copper stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME copper stocks rose by 750 metric tonnes to 338425 metric tonnes as on April 27, 2015.
27/04/2015 16:19
Copper prices rose by 0.57 per cent on Monday at the domestic markets in the midst of speculation policymakers in China will have to introduce further stimulus measures to jump start the economy amid lackluster growth which raised the demand outlook for the metal.
At the MCX, copper futures for April 2015 contract were trading at Rs.387.35 per 1 kg, up by 0.58 per cent, after opening at Rs. 386.95 against the previous closing price of Rs. 385.10. It touched the intra-day high of Rs. 388.80 till the trading. (At 4.25 PM today).
However, gains were curbed due to the surge in the copper stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME copper stocks rose by 750 metric tonnes to 338425 metric tonnes as on April 27, 2015.
