Upbeat China trade data lifts Copper futures
Copper futures closed higher in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal after a rise in China’s exports and imports last month eased fears of a slowdown in the world’s second biggest economy, lifting the demand outlook for industrial metals. Chinese exports climbed 0.9 per cent in April 2014 from the same month a year ago, while imports advanced 0.8 per cent. Further, the ECB maintained interest rates at record lows to support the 18-member Euro area economy, lifting the demand outlook for top industrial commodities. Copper futures may rise today as a slowdown in China’s inflationary pressures left room for a much needed injection of stimulus to spur growth in the world’s biggest metals consumer. At the MCX, copper futures for June 2014 contract closed at Rs. 409.40 per 1 kg, up by 1 per cent, after opening at Rs. 406.40, against the previous closing price of Rs. 405.35. It touched an intra-day high of Rs. 410.
Copper futures closed higher in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal after a rise in China’s exports and imports last month eased fears of a slowdown in the world’s second biggest economy, lifting the demand outlook for industrial metals. Chinese exports climbed 0.9 per cent in April 2014 from the same month a year ago, while imports advanced 0.8 per cent. Further, the ECB maintained interest rates at record lows to support the 18-member Euro area economy, lifting the demand outlook for top industrial commodities. Copper futures may rise today as a slowdown in China’s inflationary pressures left room for a much needed injection of stimulus to spur growth in the world’s biggest metals consumer. At the MCX, copper futures for June 2014 contract closed at Rs. 409.40 per 1 kg, up by 1 per cent, after opening at Rs. 406.40, against the previous closing price of Rs. 405.35. It touched an intra-day high of Rs. 410.
