Improving China factory outlook lifts copper futures
22/05/2014 10:57
Copper futures rose in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal after an easing contraction in Chinese manufacturing activity signaled an improving outlook for the world’s second biggest economy, lifting the demand prospects for the industrial metal. The gauge measuring China’s manufacturing rose to 49.7 in May from 48.1 in April, with a reading below 50 signaling contraction, Markit said. At the MCX, copper futures for June 2014 contract is trading at Rs. 409.55 per 1 kg, up by 0.43 per cent, after opening at Rs. 408.80, against the previous closing price of Rs. 407.80. It touched an intra-day high of Rs. 409.85 (At 10:45 AM).
22/05/2014 10:57
Copper futures rose in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal after an easing contraction in Chinese manufacturing activity signaled an improving outlook for the world’s second biggest economy, lifting the demand prospects for the industrial metal. The gauge measuring China’s manufacturing rose to 49.7 in May from 48.1 in April, with a reading below 50 signaling contraction, Markit said. At the MCX, copper futures for June 2014 contract is trading at Rs. 409.55 per 1 kg, up by 0.43 per cent, after opening at Rs. 408.80, against the previous closing price of Rs. 407.80. It touched an intra-day high of Rs. 409.85 (At 10:45 AM).
