Copper gains after China central bank provides fresh stimulus
11/12/2014 16:33
Copper prices rose by 0.53 per cent on Thursday at the domestic markets on reports that China's central bank was providing fresh stimulus to jump-start its economy. The People's Bank of China injected 400 billion yuan, or nearly $65 billion, into the country's banking system to counter a slowdown in the world's second largest economy. At the MCX, copper futures for February 2015 contract were trading at Rs.405.45 per 1 kg, up by 0.53 per cent, after opening at Rs. 404.05 against the previous closing price of Rs. 403.30. It touched the intra-day high of Rs. 405.85 till the trading. (At 4.25 PM today). However, gains were limited 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 375 metric tonnes to 166450 metric tonnes as on December 11, 2014
11/12/2014 16:33
Copper prices rose by 0.53 per cent on Thursday at the domestic markets on reports that China's central bank was providing fresh stimulus to jump-start its economy. The People's Bank of China injected 400 billion yuan, or nearly $65 billion, into the country's banking system to counter a slowdown in the world's second largest economy. At the MCX, copper futures for February 2015 contract were trading at Rs.405.45 per 1 kg, up by 0.53 per cent, after opening at Rs. 404.05 against the previous closing price of Rs. 403.30. It touched the intra-day high of Rs. 405.85 till the trading. (At 4.25 PM today). However, gains were limited 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 375 metric tonnes to 166450 metric tonnes as on December 11, 2014
