Mine strike, China hopes lift Copper
31/10/2014 11:55
Copper futures rose in the domestic market on Friday as investors bets that planned mine strikes in Indonesia and Peru may disrupt supplies while faster than expected growth in the US economy last quarter bolstered the demand outlook for the industrial metal. Further, China’s official manufacturing PMI tomorrow may show that manufacturing activity picked up in October, signaling an upbeat demand outlook for copper. The China manufacturing PMI may rise to 51.2 in October from 51.1 in September, with a reading above 50 signaling expansion. At the MCX, Copper futures for November 2014 contract is trading at Rs. 419.35 per 1 kg, up by 0.59 per cent, after opening at Rs. 416.70, against the previous closing price of Rs. 416.90. It touched an intra-day high of Rs 420.(At 11:52 AM).
31/10/2014 11:55
Copper futures rose in the domestic market on Friday as investors bets that planned mine strikes in Indonesia and Peru may disrupt supplies while faster than expected growth in the US economy last quarter bolstered the demand outlook for the industrial metal. Further, China’s official manufacturing PMI tomorrow may show that manufacturing activity picked up in October, signaling an upbeat demand outlook for copper. The China manufacturing PMI may rise to 51.2 in October from 51.1 in September, with a reading above 50 signaling expansion. At the MCX, Copper futures for November 2014 contract is trading at Rs. 419.35 per 1 kg, up by 0.59 per cent, after opening at Rs. 416.70, against the previous closing price of Rs. 416.90. It touched an intra-day high of Rs 420.(At 11:52 AM).
