Free Mcx Tips : 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 privet spot market. A surprise dip in industrial output in Germany signaled a faltering recovery in Europe’s largest economy, darkening the demand outlook for the base metal. Industrial production in Germany fell by 1.4% in June from May, when it climbed a revised 0.2%. 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 metric 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% 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.
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