Global slowdown fears hit copper
26/09/2016 15:22
Copper futures fell during noon trade in the domestic market on Monday as investors and speculators exit positions in the industrial metal amid weak physical demand for copper in the domestic spot market. Further, a slowdown in manufacturing activity in the US and private sector growth in the Euro area in September raised concerns over the metal’s near-term demand outlook. While a gauge measuring US manufacturing fell to 51.4 in September compared to 52 in August, a combined index of Euro area manufacturing and services hit a 20-month low this month at 52.6, signaling an uncertain outlook for the 19-member economy. At the MCX, copper futures for November 2016 contract is trading at Rs 325.6 per kg, down by 0.67 per cent, after opening at Rs 327, against a previous close of Rs 327.80. It touched the intra-day low of Rs 325.05 (at 15:16 PM).
26/09/2016 15:22
