Copper dips prior to China Q3 GDP
20/10/2014 15:32
Copper prices fell by 0.34 per cent on Monday at the domestic markets as traders refrained from buying activity of the industrial metal as caution persisted ahead of China’s Q3 GDP data due tomorrow which may show further slowdown in the world’s second biggest economy. At the MCX, copper futures for November 2014 contract were trading at Rs.407.85 per 1 kg, down by 0.34 per cent, after opening at Rs. 408.05 against the previous closing price of Rs. 409.25. It touched the intra-day low of Rs. 407.35 till the trading. (At 3.31 PM today).
However, losses were limited due to the decline in the copper stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME copper stocks fell by 100 metric tonnes to 157725 metric tonnes as on October 20, 2014.
20/10/2014 15:32
Copper prices fell by 0.34 per cent on Monday at the domestic markets as traders refrained from buying activity of the industrial metal as caution persisted ahead of China’s Q3 GDP data due tomorrow which may show further slowdown in the world’s second biggest economy. At the MCX, copper futures for November 2014 contract were trading at Rs.407.85 per 1 kg, down by 0.34 per cent, after opening at Rs. 408.05 against the previous closing price of Rs. 409.25. It touched the intra-day low of Rs. 407.35 till the trading. (At 3.31 PM today).
However, losses were limited due to the decline in the copper stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME copper stocks fell by 100 metric tonnes to 157725 metric tonnes as on October 20, 2014.
