Slowing China money supply growth weighs on Copper
10/09/2014 11:35
Copper futures were trading lower in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal after Chinese Premier Li Keqiang signaled that China’s money supply growth slowed in August, indicating a deepening gloom in the world’s second biggest economy amid credit constraints, clouding the demand outlook for industrial metals. M2, the broadest measure of money supply, climbed 12.8 per cent in August 2014 from the same month a year ago, down from an annual 13.5 per cent rise in July 2014. At the MCX, copper futures for November 2014 contract is trading at Rs. 422.40 per 1 kg, down by 0.07 per cent, after opening at Rs. 423, against the previous closing price of Rs. 422.70. It touched an intra-day low of Rs. 421.80. (At 11:22 AM).
10/09/2014 11:35
Copper futures were trading lower in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal after Chinese Premier Li Keqiang signaled that China’s money supply growth slowed in August, indicating a deepening gloom in the world’s second biggest economy amid credit constraints, clouding the demand outlook for industrial metals. M2, the broadest measure of money supply, climbed 12.8 per cent in August 2014 from the same month a year ago, down from an annual 13.5 per cent rise in July 2014. At the MCX, copper futures for November 2014 contract is trading at Rs. 422.40 per 1 kg, down by 0.07 per cent, after opening at Rs. 423, against the previous closing price of Rs. 422.70. It touched an intra-day low of Rs. 421.80. (At 11:22 AM).
