Copper futures in reverse gear on global cues 24/08/2016 16:36

Copper futures in reverse gear on global cues
24/08/2016 16:36

Copper futures were trading lower during the evening trade in the domestic market on Wednesday as investors cast aside improved China data which showed a pickup in the world’s biggest economy. The China leading index rose 0.7 per cent in July from June, when it advanced 0.5 per cent.
Traders were also cautious ahead of Fed Chair Janet Yellen’s speech on Friday which may offer more clues over when the Fed plans to raise interest rates next. At the MCX, copper futures for August 2016 contract is trading at Rs 312.40 per kg, down by 0.45 per cent, after opening at Rs 314, against a previous close of Rs 313.80. It touched the intra-day low of Rs 311.90 (at 16:33 hours).