Upbeat Eurozone data lifts Copper
16/09/2014 11:35
Copper futures rose in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal after Euro area trade surplus widened in July, easing the gloom in the 18-member economy, lifting the demand outlook for industrial metals. Euro area trade surplus widened to 21.2 billion euro in July 2014 from 18 billion euro in the same month a year ago as export growth outpaced that of imports. However, China’s FDI slumped to a four-year low to USD 7.2 billion in August 2014, down 14 per cent from the year ago month, clouding the outlook for the world’s second biggest economy, dimming the demand prospects for copper. At the MCX, copper futures for November 2014 contract is trading at Rs. 423.60 per 1 kg, up by 0.31 per cent, after opening at Rs. 422.75, against the previous closing price of Rs. 422.30. It touched an intra-day high of Rs. 423.80. (At 11:25 AM).
16/09/2014 11:35
Copper futures rose in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal after Euro area trade surplus widened in July, easing the gloom in the 18-member economy, lifting the demand outlook for industrial metals. Euro area trade surplus widened to 21.2 billion euro in July 2014 from 18 billion euro in the same month a year ago as export growth outpaced that of imports. However, China’s FDI slumped to a four-year low to USD 7.2 billion in August 2014, down 14 per cent from the year ago month, clouding the outlook for the world’s second biggest economy, dimming the demand prospects for copper. At the MCX, copper futures for November 2014 contract is trading at Rs. 423.60 per 1 kg, up by 0.31 per cent, after opening at Rs. 422.75, against the previous closing price of Rs. 422.30. It touched an intra-day high of Rs. 423.80. (At 11:25 AM).
