Copper drops on bearish euro zone data
05/05/2015 12:26
Copper prices fell by 0.35 per cent on Tuesday after investor confidence in the euro zone deteriorated slightly in May, one month after hitting the highest level since August 2007 which reduced the demand outlook for the metal.
In a report, market research group, Sentix said its index of investor confidence fell to 19.6 this month, from a reading of 20.0 in April. Analysts had expected the index to decline to 19.8 in May.
At the MCX, copper futures for June 2015 contract were trading at Rs.412.40 per 1 kg, down by 0.35 per cent, after opening at Rs. 412.90 against the previous closing price of Rs. 413.75. It touched the intra-day low of Rs. 410.85 till the trading. (At 12.18 PM today).
05/05/2015 12:26
Copper prices fell by 0.35 per cent on Tuesday after investor confidence in the euro zone deteriorated slightly in May, one month after hitting the highest level since August 2007 which reduced the demand outlook for the metal.
In a report, market research group, Sentix said its index of investor confidence fell to 19.6 this month, from a reading of 20.0 in April. Analysts had expected the index to decline to 19.8 in May.
At the MCX, copper futures for June 2015 contract were trading at Rs.412.40 per 1 kg, down by 0.35 per cent, after opening at Rs. 412.90 against the previous closing price of Rs. 413.75. It touched the intra-day low of Rs. 410.85 till the trading. (At 12.18 PM today).
