Copper gains on upbeat demand outlook
06/05/2015 12:18
Copper prices ticked higher on Wednesday after service sector activity in the U.S. grew at the fastest pace in five months in April, boosting optimism that the U.S. economy may be stabilizing after a recent bout of weakness which raised the demand outlook for the metal. At the MCX, copper futures for June 2015 contract were trading at Rs.416.95 per 1 kg, up by 0.60 per cent, after opening at Rs. 415.15 against the previous closing price of Rs. 414.45. It touched the intra-day high of Rs. 418 till the trading. (At 12.11 PM today).
The Institute of Supply Management said its non-manufacturing purchasing manager's index rose to 57.8 last month, above forecasts for a reading of 56.2 and up from 56.5 in March.
06/05/2015 12:18
Copper prices ticked higher on Wednesday after service sector activity in the U.S. grew at the fastest pace in five months in April, boosting optimism that the U.S. economy may be stabilizing after a recent bout of weakness which raised the demand outlook for the metal. At the MCX, copper futures for June 2015 contract were trading at Rs.416.95 per 1 kg, up by 0.60 per cent, after opening at Rs. 415.15 against the previous closing price of Rs. 414.45. It touched the intra-day high of Rs. 418 till the trading. (At 12.11 PM today).
The Institute of Supply Management said its non-manufacturing purchasing manager's index rose to 57.8 last month, above forecasts for a reading of 56.2 and up from 56.5 in March.
