Upbeat demand outlook lifts Copper futures
10/09/2014 16:31
Copper prices rose by 0.01 per cent on Wednesday at the domestic markets after French industrial output rose unexpectedly last month, official data showed on Wednesday signaling improved sentiment in the region which raised the demand for the metal. INSEE said that French Industrial Production rose to 0.2 per cent, from 1.2 per cent in the preceding month whose figure was revised down from 1.3 per cent. At the MCX, copper futures for November 2014 contract were trading at Rs.422.75 per 1 kg, up by 0.01 per cent, after opening at Rs. 423 against the previous closing price of Rs. 422.70. It touched the intra-day high of Rs. 424.20 till the trading. (At 4.26 PM today). However, gains were curbed due to the surge in the copper stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME copper stocks rose by 925 metric tonnes to 155625 metric tonnes as on September 10, 2014.
10/09/2014 16:31
Copper prices rose by 0.01 per cent on Wednesday at the domestic markets after French industrial output rose unexpectedly last month, official data showed on Wednesday signaling improved sentiment in the region which raised the demand for the metal. INSEE said that French Industrial Production rose to 0.2 per cent, from 1.2 per cent in the preceding month whose figure was revised down from 1.3 per cent. At the MCX, copper futures for November 2014 contract were trading at Rs.422.75 per 1 kg, up by 0.01 per cent, after opening at Rs. 423 against the previous closing price of Rs. 422.70. It touched the intra-day high of Rs. 424.20 till the trading. (At 4.26 PM today). However, gains were curbed due to the surge in the copper stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME copper stocks rose by 925 metric tonnes to 155625 metric tonnes as on September 10, 2014.
