Copper futures up on upbeat US demand outlook
23/05/2014 11:19
Copper futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal as manufacturing output in the US rose at the fastest pace in three years as the gauge measuring manufacturing rose to 56.2 in May from 55.4 in the previous month, with a reading above 50 signaling expansion, Markit said, lifting the demand outlook for industrial metals. The index of US leading indicators rose for the fourth month on the trot, up 0.4 per cent in April 2014 from the previous month when it climbed 1 per cent. At the MCX, copper futures for June 2014 contract is trading at Rs. 409.80 per 1 kg, up by 0.58 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. 410.20. (At 11:05 AM).
23/05/2014 11:19
Copper futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal as manufacturing output in the US rose at the fastest pace in three years as the gauge measuring manufacturing rose to 56.2 in May from 55.4 in the previous month, with a reading above 50 signaling expansion, Markit said, lifting the demand outlook for industrial metals. The index of US leading indicators rose for the fourth month on the trot, up 0.4 per cent in April 2014 from the previous month when it climbed 1 per cent. At the MCX, copper futures for June 2014 contract is trading at Rs. 409.80 per 1 kg, up by 0.58 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. 410.20. (At 11:05 AM).
