Weak China data takes toll on Copper
11/09/2014 11:39
Copper futures fell in the domestic market on Thursday as investors and speculators exited positions in the industrial metal as weak inflation in China signaled a worsening demand outlook in the world’s biggest metals consumer. China’s consumer price index climbed 2 per cent in August 2014 from the same month a year ago, the lowest in four months, and down from an annual rise of 2.3 per cent in July 2014. Factory gate prices fell for the 30th straight month, down 1.2 per cent in August 2014 from the same month a year ago. At the MCX, copper futures for November 2014 contract is trading at Rs. 420.40 per 1 kg, down by 0.95 per cent, after opening at Rs. 423.70, against the previous closing price of Rs. 424.45. It touched an intra-day low of Rs. 420.10. (At 11:26 AM).
11/09/2014 11:39
Copper futures fell in the domestic market on Thursday as investors and speculators exited positions in the industrial metal as weak inflation in China signaled a worsening demand outlook in the world’s biggest metals consumer. China’s consumer price index climbed 2 per cent in August 2014 from the same month a year ago, the lowest in four months, and down from an annual rise of 2.3 per cent in July 2014. Factory gate prices fell for the 30th straight month, down 1.2 per cent in August 2014 from the same month a year ago. At the MCX, copper futures for November 2014 contract is trading at Rs. 420.40 per 1 kg, down by 0.95 per cent, after opening at Rs. 423.70, against the previous closing price of Rs. 424.45. It touched an intra-day low of Rs. 420.10. (At 11:26 AM).
