Copper futures up on improving China demand outlook
26/05/2014 09:19
Copper futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal after data showed that a Chinese leading index continued to rise in April 2014, easing fears over a slowdown in the world’s second biggest economy, lifting the demand outlook for industrial metals. The gauge measuring China leading index rose 0.9 per cent in April 2014 over the previous month, the Conference Board said. Investors shrugged off weak German data which showed a dip in business confidence, signaling a cooling recovery in Europe’s biggest economy, dimming the demand outlook for industrial metals. The Ifo business confidence gauge fell to 110.4 in May from 111.2 in the previous month. Copper futures may rise today as robust US home sales data lifted the demand outlook for industrial metals. At the MCX, copper futures for June 2014 contract closed at Rs. 410.85 per 1 kg, up by 0.83 per cent, after opening at Rs. 408.50, against the previous closing price of Rs. 407.45. It touched an intra-day high of Rs. 412.
26/05/2014 09:19
Copper futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal after data showed that a Chinese leading index continued to rise in April 2014, easing fears over a slowdown in the world’s second biggest economy, lifting the demand outlook for industrial metals. The gauge measuring China leading index rose 0.9 per cent in April 2014 over the previous month, the Conference Board said. Investors shrugged off weak German data which showed a dip in business confidence, signaling a cooling recovery in Europe’s biggest economy, dimming the demand outlook for industrial metals. The Ifo business confidence gauge fell to 110.4 in May from 111.2 in the previous month. Copper futures may rise today as robust US home sales data lifted the demand outlook for industrial metals. At the MCX, copper futures for June 2014 contract closed at Rs. 410.85 per 1 kg, up by 0.83 per cent, after opening at Rs. 408.50, against the previous closing price of Rs. 407.45. It touched an intra-day high of Rs. 412.
