Copper futures higher on physical demand, Europe hopes 16/06/2014

Copper futures higher on physical demand, Europe hopes
16/06/2014 11:36
Copper futures rose in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal amid firm physical demand for copper in the domestic spot market.
Further, Euro area trade surplus widened in April 2014, signaling a pickup in the 18-member economy, lifting the demand outlook for industrial metals. Euro area posted a trade surplus of 15.7 billion euro in April, up from 14 billion euro in April 2013.
At the MCX, copper futures for June 2014 contract is trading at Rs. 404.15 per 1 kg, up by 0.82 per cent, after opening at Rs. 402, against the previous closing price of Rs. 400.85. It touched an intra-day high of Rs. 404.85. (At 11:23 AM).

Copper futures rise despite higher China inflation 10/06/2014

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).

Copper futures dip amid weak global cues 06/06/2014

Copper futures dip amid weak global cues
06/06/2014 11:38
Copper futures fell in the domestic market on Friday as investors and speculators exited positions in the industrial metal as a rise in US jobless claims signaled headwinds to the US labour market recovery, dimming the demand outlook for industrial metals. Further, speculation that a probe into financing transactions at China’s Qingdao Port may hit the demand for the base metal to use as collateral, also weighed on sentiment. At the MCX, copper futures for June 2014 contract is trading at Rs. 403.05 per 1 kg, down by 0.38 per cent, after opening at Rs. 404, against the previous closing price of Rs. 404.60. It touched an intra-day low of Rs. 402.65. (At 11:20 AM).

Upbeat China demand outlook lift Copper futures 02/06/2014

Upbeat China demand outlook lift Copper futures
02/06/2014 11:24
Copper prices rose by 0.50 per cent on Monday at the domestic markets after manufacturing activity in China rose more-than-expected last month signaling upbeat activity in the region which raised the demand outlook for the metal. China Logistics Information Center said that Chinese Manufacturing PMI rose to an annual rate of 50.8, from 50.4 in the preceding month. At the MCX, copper futures for June 2014 contract were trading at Rs.412.85 per 1 kg, up by 0.50 per cent, after opening at Rs. 411.70 against the previous closing price of Rs. 410.80. It touched the intra-day high of Rs. 413.10 till the trading. (At 11.30AM today).

Copper futures up on supply concerns 30/05/2014

Copper futures up on supply concerns
30/05/2014 17:57
Copper futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal as falling stockpiles signaled a pickup in demand for copper. Stockpiles of copper tracked by major bourses have fallen 45 per cent this year to the lowest since 2008, data shows. At the MCX, copper futures for June 2014 contract is trading at Rs. 413.50 per 1 kg, up by 0.62 per cent, after opening at Rs. 410.10, against the previous closing price of Rs. 410.95. It touched an intra-day high of Rs. 413.80. (At 17:01 PM).

Copper futures dip ahead of US data : 27/05/2014

Copper futures dip ahead of US data
27/05/2014 11:42
Copper futures fell in the domestic market on Tuesday as investors and speculators stayed cautious over booking fresh positions in the industrial metal amid weak physical demand for the base metal in the domestic spot market.
Caution persisted ahead of key US data including durable goods orders and home prices data which may signal a fragile recovery in the world’s biggest economy, clouding the demand outlook for industrial metals.
At the MCX, copper futures for June 2014 contract is trading at Rs. 416.20 per 1 kg, down by 0.38 per cent, after opening at Rs. 416.60, against the previous closing price of Rs. 417.80. It touched an intra-day low of Rs. 415.60. (At 11:29 AM).

Copper futures end tad lower on stronger rupee : 23/05/2014

Copper futures end tad lower on stronger rupee
23/05/2014 09:24
Copper futures closed with slim losses in the domestic market on Thursday as a stronger rupee more than offset the gains in the base metal in the overseas market. Stronger rupee against the US dollar exerted downward pressure on domestic copper prices. Copper futures rose in the overseas market 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. Further, US existing home sales surged by 1.3 per cent in April to a 4.65 million annualized rate, signaling a firm housing recovery. A combined gauge measuring Euro area manufacturing and services rose at a robust pace in May, signaling a pickup in the 18-member economy, lifting the demand outlook for industrial metals, supporting copper futures. The gauge measuring Euro area private sector output stood at 53.9 this month, Markit said. Copper futures may rise today as a pickup in US manufacturing bolsters demand outlook. At the MCX, copper futures for June 2014 contract closed at Rs. 407.45 per 1 kg, down by 0.09 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. 405.45.

Slowing US housing sector weighs on copper futures : 22/05/2014 09:29

Slowing US housing sector weighs on copper futures
22/05/2014 09:29
Copper futures ended lower in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal after a warning by the US Federal Reserve over the slowdown in the US housing sector dimmed the demand outlook for the industrial metal. FOMC minutes showed that Fed members were concerned over the continued weakness in the US housing sector. However, the losses in the base metal were curbed by robust Euro area data which showed an improvement in the region’s consumer confidence signaling a pickup in the 18-member economy, lifting the demand outlook for industrial metals. The gauge measuring consumer confidence in the Euro area surged to the highest level since 2007, up to -7.1 in May 2014 from -8.6 in the previous month, the EU said. However, Copper futures may rise today as easing contraction in Chinese factories supports the demand outlook for industrial metals. At the MCX, copper futures for June 2014 contract closed at Rs. 407.80 per 1 kg, down by 0.56 per cent, after opening at Rs. 410.40, against the previous closing price of Rs. 410.10. It touched an intra-day low of Rs. 405.

Copper futures higher on physical demand : 21/05/2014

Copper futures higher on physical demand
21/05/2014 11:15
Copper futures rose in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for copper in the domestic spot market.
However, concerns over slowing economic growth in China, the world’s biggest metals consumer, signaled a gloomy demand outlook for the base metal, trimming gains in copper futures.
At the MCX, copper futures for June 2014 contract is trading at Rs. 410.40 per 1 kg, up by 0.07 per cent, after opening at Rs. 410.40, against the previous closing price of Rs. 410.10. It touched an intra-day low of Rs. 411.50. (At 11:01 AM).

Copper futures end lower on China demand fears : 21/05/2014

Copper futures end lower on China demand fears
21/05/2014 09:24
Copper futures fell in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal amid fears that a slowing economic recovery in China, the world’s biggest metals consumer, may dampen the demand for the base metal. China is set to miss its foreign trade target for a third straight year on higher labour costs and weaker global demand, signaling a worsening slowdown in the world’s second biggest economy, darkening the demand outlook for copper. China has set a 7.5 per cent growth target for exports and imports in 2014. Copper futures may trade on a cautious note today ahead of the US FOMC minutes where the Fed may offer more cues over further stimulus tapering. At the MCX, copper futures for June 2014 contract closed at Rs. 410.10 per 1 kg, down by 0.47 per cent, after opening at Rs. 412, against the previous closing price of Rs. 412.05. It touched an intra-day low of Rs. 407.65..

Copper futures end higher on China demand hopes : 20/05/2014

Copper futures end higher on China demand hopes
20/05/2014 09:35
Copper futures ended higher in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal as China vowed to fasten the pace of financial reforms, raising hopes of a growth rebound, lifting the demand outlook for industrial metals, given that China is the world’s biggest metals consumer. The country’s top economic planning agency said that China will accelerate the pace of economic reforms as policymakers aim to stem a deepening economic slowdown. Further, speculation that the European Central Bank (ECB) may cut interest rates next month to boost inflation and growth in the 18-member Euro area economy supported the demand outlook for industrial metals. A top member on the ECB executive board signaled the increasing likelihood of further policy measures in June amid rising risk of deflation. Copper futures may continue the upward journey today amid hopes that financial reforms in China may boost economic growth and lift demand. At the MCX, copper futures for June 2014 contract closed at Rs. 412.05 per 1 kg, up by 0.45 per cent, after opening at Rs. 412, against the previous closing price of Rs. 410.20. It touched an intra-day high of Rs. 413.80.

Weak China data drags down copper futures

Weak China data drags down copper futures

Copper futures ended lower in the domestic market on Friday as investors and speculators exited positions in the industrial metal after weak China FDI data signaled a cooling recovery in the world’s second biggest economy, darkening the demand outlook for industrial metals. China’s inbound FDI stood at USD 8.7 billion in April 2014, up 3.4 per cent, year on year. However, the number was less than March’s USD 12.24 billion. China is the world’s biggest consumer of the base metal, accounting for 40 per cent of global copper consumption. Investors cast aside strong US home construction data as starts jumped to the highest level since November in April 2014, signaling a pickup in the US housing market. Copper futures may rise today as China vowed to fasten the pace of financial reforms, raising hopes of a growth rebound, lifting the demand outlook for industrial metals. At the MCX, copper futures for June 2014 contract closed at Rs. 410.20 per 1 kg, down by 1.33 per cent, after opening at Rs. 414.05, against the previous closing price of Rs. 415.75. It touched an intra-day low of Rs. 409.30.

Weak Euro area growth weighs on copper futures

Weak Euro area growth weighs on copper futures

Copper futures ended lower in the domestic market on Thursday as investors and speculators exited positions in the industrial metal after weaker than expected growth in the Euro area signaled a cautious recovery in the 18-member economy, clouding the demand outlook for industrial metals. The Euro area economy expanded only 0.2 per cent in Q1 2014 over the previous quarter, when it had expanded at the same pace. A dip in the US housing market index signaled a faltering US housing recovery, dimming the demand outlook for industrial metals. The NAHB housing market index fell to 45 in May from 46 in the previous month. Copper futures may fall today as a slowdown in China’s FDI signaled a cooling recovery in the world’s second biggest economy, darkening the demand outlook for industrial metals. At the MCX, copper futures for June 2014 contract closed at Rs. 415.75 per 1 kg, down by 0.55 per cent, after opening at Rs. 417.10, against the previous closing price of Rs. 418.05. It touched an intra-day low of Rs. 415.20.

Copper futures dip amid weak China data

Copper futures dip amid weak China data

Copper futures ended lower in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal amid fears that slowing economic growth in China, the world’s biggest metals consumer, may crimp demand for industrial metals. China’s industrial output grew at a slower than estimated pace last month, up 8.7 per cent, year on year in April 2014, signaling a cooling recovery in the world’s second biggest economy. Analysts were expecting China’s industrial output to rise by 8.9 per cent in April 2014 from the same month a year ago. China’s industrial output rose by 8.8 per cent, year on year in March 2014. Copper futures may rise today as speculation of an injection of Euro area monetary stimulus in June bolsters demand outlook. At the MCX, copper futures for June 2014 contract closed at Rs. 414.65 per 1 kg, down by 0.75 per cent, after opening at Rs. 417.50, against the previous closing price of Rs. 417.80. It touched an intra-day low of Rs. 414.30.

Copper futures up on China inflation data

Copper futures up on China inflation data

Copper futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal as a dip in China’s inflationary pressures left room for a much needed injection of stimulus to spur growth in the world’s second biggest economy, lifting the demand outlook for industrial metals. Consumer prices in China rose by 1.8 per cent in April 2014 from the same month a year ago, compared to an annual 2.4 per cent gain in March 2014. At the MCX, copper futures for June 2014 contract is trading at Rs. 410.35 per 1 kg, up by 0.23 per cent, after opening at Rs. 409.65, against the previous closing price of Rs. 409.40. It touched an intra-day low of Rs. 410.70. (At 11:15 AM).

Upbeat China trade data lifts Copper futures

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 slip on China demand fears

Copper futures slip on China demand fears

Copper futures ended lower in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal as concerns that slowing economic growth in China, the world’s biggest metals consumer, clouded the demand outlook for copper. China accounts for nearly 40 per cent of global copper consumption. German factory orders fell in March, signaling a faltering recovery in Europe’s biggest economy, darkening the demand outlook for industrial metals. Orders received by German factories fell 2.8 per cent in March from the previous month. Copper futures may rebound today as a rise in China’s exports and imports last month eased fears of a slowdown in the world’s second biggest economy. At the MCX, copper futures for June 2014 contract closed at Rs 405.35 per 1 kg, down by 0.86 per cent, after opening at Rs. 410, against the previous closing price of Rs. 408.85. It touched an intra-day low of Rs. 404.40.