Copper futures up on China inflation data
Copper futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal as a dip in China’s inflationary pressures left room for a much needed injection of stimulus to spur growth in the world’s second biggest economy, lifting the demand outlook for industrial metals. Consumer prices in China rose by 1.8 per cent in April 2014 from the same month a year ago, compared to an annual 2.4 per cent gain in March 2014. At the MCX, copper futures for June 2014 contract is trading at Rs. 410.35 per 1 kg, up by 0.23 per cent, after opening at Rs. 409.65, against the previous closing price of Rs. 409.40. It touched an intra-day low of Rs. 410.70. (At 11:15 AM).
Copper futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal as a dip in China’s inflationary pressures left room for a much needed injection of stimulus to spur growth in the world’s second biggest economy, lifting the demand outlook for industrial metals. Consumer prices in China rose by 1.8 per cent in April 2014 from the same month a year ago, compared to an annual 2.4 per cent gain in March 2014. At the MCX, copper futures for June 2014 contract is trading at Rs. 410.35 per 1 kg, up by 0.23 per cent, after opening at Rs. 409.65, against the previous closing price of Rs. 409.40. It touched an intra-day low of Rs. 410.70. (At 11:15 AM).
