Copper futures up on US factory data
17/06/2014 11:53
Copper futures rose in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal as a rebound in US industrial output signaled a pickup in the world’s biggest economy, lifting the demand outlook for industrial metals. US industrial output climbed 0.6 per cent in May 2014 over the previous month. However, a dip in FDI in China, the world’s biggest metals consumer clouded the demand outlook for copper, curbing gains in the base metal. China’s FDI fell 6.7 per cent in May 2014 over the same month a year ago. At the MCX, copper futures for June 2014 contract is trading at Rs. 408.65 per 1 kg, up by 0.68 per cent, after opening at Rs. 407.60, against the previous closing price of Rs. 405.90. It touched an intra-day high of Rs. 408.80. (At 11:31 AM).
17/06/2014 11:53
Copper futures rose in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal as a rebound in US industrial output signaled a pickup in the world’s biggest economy, lifting the demand outlook for industrial metals. US industrial output climbed 0.6 per cent in May 2014 over the previous month. However, a dip in FDI in China, the world’s biggest metals consumer clouded the demand outlook for copper, curbing gains in the base metal. China’s FDI fell 6.7 per cent in May 2014 over the same month a year ago. At the MCX, copper futures for June 2014 contract is trading at Rs. 408.65 per 1 kg, up by 0.68 per cent, after opening at Rs. 407.60, against the previous closing price of Rs. 405.90. It touched an intra-day high of Rs. 408.80. (At 11:31 AM).
