Copper futures dip ahead of US data
27/05/2014 11:42
Copper futures fell in the domestic market on Tuesday as investors and speculators stayed cautious over booking fresh positions in the industrial metal amid weak physical demand for the base metal in the domestic spot market.
Caution persisted ahead of key US data including durable goods orders and home prices data which may signal a fragile recovery in the world’s biggest economy, clouding the demand outlook for industrial metals.
At the MCX, copper futures for June 2014 contract is trading at Rs. 416.20 per 1 kg, down by 0.38 per cent, after opening at Rs. 416.60, against the previous closing price of Rs. 417.80. It touched an intra-day low of Rs. 415.60. (At 11:29 AM).
27/05/2014 11:42
Copper futures fell in the domestic market on Tuesday as investors and speculators stayed cautious over booking fresh positions in the industrial metal amid weak physical demand for the base metal in the domestic spot market.
Caution persisted ahead of key US data including durable goods orders and home prices data which may signal a fragile recovery in the world’s biggest economy, clouding the demand outlook for industrial metals.
At the MCX, copper futures for June 2014 contract is trading at Rs. 416.20 per 1 kg, down by 0.38 per cent, after opening at Rs. 416.60, against the previous closing price of Rs. 417.80. It touched an intra-day low of Rs. 415.60. (At 11:29 AM).
