Copper dips on weak demand prospects 09/12/2014

Copper dips on weak demand prospects
09/12/2014 11:43
Copper prices fell by 0.29 per cent on Tuesday at the domestic markets after the data showed that Japan's economy dropped by an annualized 1.9 percent in the Q3, beyond the preliminary forecast of decline by 1.6 percent signaling weak sentiment in the region which reduced the demand outlook for the metal. At the MCX, copper futures for February 2015 contract were trading at Rs.398.60 per 1 kg, down by 0.29 per cent, after opening at Rs. 399.25 against the previous closing price of Rs. 399.75. It touched the intra-day low of Rs. 398.40 till the trading. (At 11.43 AM today).

Copper gains on bullish China data, declining stockpiles 21/10/2014

Copper gains on bullish China data, declining stockpiles
21/10/2014 16:05
Copper prices rose by 0.31 per cent on Tuesday at the domestic markets after Industrial production in China rose more-than-expected last month, official data showed on Tuesday signaling an improving industrial activity in China, world’s largest consumer of the metal which raised the demand prospects for the metal. National Bureau of Statistics of China said that Chinese Industrial Production rose to 8.0 per cent, from 6.9 per cent in the preceding month. At the MCX, copper futures for November 2014 contract were trading at Rs.408.15 per 1 kg, up by 0.31 per cent, after opening at Rs. 407.05 against the previous closing price of Rs. 406.90. It touched the intra-day high of Rs. 408.50 till the trading. (At 4.02 PM today).
Sentiment improved further 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 157625 metric tonnes as on October 21, 2014.

Sluggish global demand drags down Copper futures 07/10/2014

Sluggish global demand drags down Copper futures
07/10/2014 16:14
Copper prices fell by 0.19 per cent on Tuesday at the domestic markets after the gauge measuring Euro area investor confidence fell to -13.7 this month from -9.8 in September, Sentix said signaling improving sentiment in the Euro area, dimming the demand outlook for the metal. At the MCX, copper futures for November 2014 contract were trading at Rs.415.45 per 1 kg, down by 0.19 per cent, after opening at Rs. 416.30 against the previous closing price of Rs. 416.25. It touched the intra-day low of Rs. 414.60 till the trading. (At 4.10 PM today). Sentiment weakened further after the World Bank cut China’s economic growth forecast for 2014 and 2015 to 7.4 per cent and 7.2 per cent, respectively, from 7.6 per cent and 7.5 per cent previously.

Copper falls on weak global cues 28/07/2014

Copper falls on weak global cues
28/07/2014 11:42
Copper prices was trading flat on Monday at the domestic markets due to a mixed reading on the health of U.S. business investment which suggested the economy may not have rebounded as strongly in the second quarter as previously believed, but it offered hope for the rest of 2014. At the MCX, copper futures for August 2014 contract were trading at Rs.431.90 per 1 kg, down by 0.01 per cent, after opening at Rs. 431.35 against the previous closing price of Rs. 431.95. It touched the intra-day low of Rs. 431.35 till the trading. (At 11.24 AM 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 1750 metric tonnes to 152600 metric tonnes as on July 25, 2014.