Tepid China trade data weighs on Copper
08/05/2015 11:49
Copper futures were trading with slim gains in the domestic market on Friday as investors and speculators stayed cautious over booking fresh positions in the industrial metal after China’s exports and imports slid last month, signaling a worsening slowdown in the world’s biggest metals consumer, darkening the demand outlook for copper.
China’s overseas shipments fell 6.2 per cent, year on year in April 2015 when imports slid 16.1 per cent. However, copper imports climbed 4.9 per cent to the highest level since last April at 430,000 tonnes, curbing losses in the base metal.
At the MCX, Copper futures for June 2015 contract is trading at Rs 416.05 per 1 kg, down by 0.10 per cent after opening at Rs 416.50, against the previous closing price of Rs 416.45. It touched the intra-day low of Rs 415.30. (At 11:41 AM).
08/05/2015 11:49
Copper futures were trading with slim gains in the domestic market on Friday as investors and speculators stayed cautious over booking fresh positions in the industrial metal after China’s exports and imports slid last month, signaling a worsening slowdown in the world’s biggest metals consumer, darkening the demand outlook for copper.
China’s overseas shipments fell 6.2 per cent, year on year in April 2015 when imports slid 16.1 per cent. However, copper imports climbed 4.9 per cent to the highest level since last April at 430,000 tonnes, curbing losses in the base metal.
At the MCX, Copper futures for June 2015 contract is trading at Rs 416.05 per 1 kg, down by 0.10 per cent after opening at Rs 416.50, against the previous closing price of Rs 416.45. It touched the intra-day low of Rs 415.30. (At 11:41 AM).
