Copper prices ended lower in the domestic market on Friday as investors and speculators exited positions in the industrial metal amid soft physical demand for copper in the Homely spot market. A surprise dip in industrial output in Germany signaled a faltering recovery in Europe’s biggest economy, darkening the demand outlook for the base metal. Industrial production in Germany fell by 1.4 per cent in June from May, when it climbed a revised 0.2 per cent. Sentiment weakened further due to the surge in the copper stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME copper stocks rose by 725 metric tonnes to 352325 meatric tonnes as on August 7, 2015. Copper prices may decline as investors now look ahead to upcoming US data which may determine the health of the world’s largest economy. At the MCX, Copper futures for August 2015 contract closed at Rs 329.70 per 1 kg, down by 0.44 per cent after opening at Rs 330 against the previous closing price of Rs 331.15. It touched the intra-day low of Rs 327.30 till the closing.
For More Details - Mcx Copper Tips
0 comments:
Post a Comment