Copper drops as demand weakens
08/01/2015 12:36
Copper prices fell by 0.22 per cent on Thursday at the domestic markets after Bundesministerium für Wirtschaft und Technologie said that German factory orders fell to a seasonally adjusted -2.4 per cent, from 2.9 per cent in the preceding month whose figure was revised up from 2.5 per cent which reduced the demand outlook for the metal. At the MCX, copper futures for February 2015 contract were trading at Rs.388.55 per 1 kg, down by 0.22 per cent, after opening at Rs. 389.40 against the previous closing price of Rs. 389.40. It touched the intra-day low of Rs. 388.20 till the trading. (At 12.12 PM today).
However, losses were curbed due to the decline in the copper stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME copper stocks fell by 100 metric tonnes to 178675 metric tonnes as on January 7, 2015
08/01/2015 12:36
Copper prices fell by 0.22 per cent on Thursday at the domestic markets after Bundesministerium für Wirtschaft und Technologie said that German factory orders fell to a seasonally adjusted -2.4 per cent, from 2.9 per cent in the preceding month whose figure was revised up from 2.5 per cent which reduced the demand outlook for the metal. At the MCX, copper futures for February 2015 contract were trading at Rs.388.55 per 1 kg, down by 0.22 per cent, after opening at Rs. 389.40 against the previous closing price of Rs. 389.40. It touched the intra-day low of Rs. 388.20 till the trading. (At 12.12 PM today).
However, losses were curbed due to the decline in the copper stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME copper stocks fell by 100 metric tonnes to 178675 metric tonnes as on January 7, 2015
