China industrial slowdown weighs on Copper
27/11/2014 12:12
Copper futures fell in the domestic market on Thursday as investors and speculators exited positions in the industrial metal after China’s industrial profits fell at the sharpest pace in two years, signaling a worsening slowdown in the world’s biggest metals consumer, darkening the demand outlook for copper.
China’s industrial profits fell 2.1 per cent in October 2014 from the same month a year ago, the biggest decrease since August 2012, compared to a 0.4 per cent annual rise in September 2014.
At the MCX, copper futures for November 2014 contract is trading at Rs. 404.70 per 1 kg, up by 0.20 per cent, after opening at Rs. 406.30, against the previous closing price of Rs. 405.50. It touched an intra-day high of Rs. 407.25. (At 12:03 PM).
27/11/2014 12:12
Copper futures fell in the domestic market on Thursday as investors and speculators exited positions in the industrial metal after China’s industrial profits fell at the sharpest pace in two years, signaling a worsening slowdown in the world’s biggest metals consumer, darkening the demand outlook for copper.
China’s industrial profits fell 2.1 per cent in October 2014 from the same month a year ago, the biggest decrease since August 2012, compared to a 0.4 per cent annual rise in September 2014.
At the MCX, copper futures for November 2014 contract is trading at Rs. 404.70 per 1 kg, up by 0.20 per cent, after opening at Rs. 406.30, against the previous closing price of Rs. 405.50. It touched an intra-day high of Rs. 407.25. (At 12:03 PM).
