China factory data lifts Copper futures
23/06/2014 13:07
Copper futures rose in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal after manufacturing activity in China rose at the fastest pace in seven months in June, signaling a pickup in the world’s second biggest economy, lifting the demand outlook for base metals.
The gauge measuring manufacturing in China rose to 50.8 in June from 49.4 in the previous month, with a reading above 50 signaling expansion, HSBC said.
At the MCX, copper futures for June 2014 contract is trading at Rs. 418.20 per 1 kg, up by 0.66 per cent, after opening at Rs. 417, against the previous closing price of Rs. 415.45. It touched an intra-day high of Rs. 418.45. (At 10:48 AM).
23/06/2014 13:07
Copper futures rose in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal after manufacturing activity in China rose at the fastest pace in seven months in June, signaling a pickup in the world’s second biggest economy, lifting the demand outlook for base metals.
The gauge measuring manufacturing in China rose to 50.8 in June from 49.4 in the previous month, with a reading above 50 signaling expansion, HSBC said.
At the MCX, copper futures for June 2014 contract is trading at Rs. 418.20 per 1 kg, up by 0.66 per cent, after opening at Rs. 417, against the previous closing price of Rs. 415.45. It touched an intra-day high of Rs. 418.45. (At 10:48 AM).
