Copper futures rise despite higher China inflation
10/06/2014 11:45
Copper futures were trading higher in the domestic market on Tuesday as inflation in China, the world’s biggest metals consumer, remained below target, leaving more room for injection of stimulus to spur growth in the world’s second biggest economy, lifting the demand outlook for copper.
Consumer inflation in China accelerated to 2.5 per cent in May 2014 from 1.8 per cent in April 2014 but remained below the government’s 3.5 per cent target.
At the MCX, copper futures for June 2014 contract is trading at Rs. 400.45 per 1 kg, up by 0.30 per cent, after opening at Rs. 399.60, against the previous closing price of Rs. 399.25. It touched an intra-day low of Rs. 400.75. (At 11:22 AM).
10/06/2014 11:45
Copper futures were trading higher in the domestic market on Tuesday as inflation in China, the world’s biggest metals consumer, remained below target, leaving more room for injection of stimulus to spur growth in the world’s second biggest economy, lifting the demand outlook for copper.
Consumer inflation in China accelerated to 2.5 per cent in May 2014 from 1.8 per cent in April 2014 but remained below the government’s 3.5 per cent target.
At the MCX, copper futures for June 2014 contract is trading at Rs. 400.45 per 1 kg, up by 0.30 per cent, after opening at Rs. 399.60, against the previous closing price of Rs. 399.25. It touched an intra-day low of Rs. 400.75. (At 11:22 AM).
