Free MCX Tips: Copper prices closed lower in the national market on Thursday as Chinese investors returned to the market from a week-long break, reanimating concern about requirement from the world’s top copper buyer. Copper prices pulled lower as Chinese market shareholder returned to the market and investors globally refocused on the debate about Chinese metal demand. China drives about 40 per-cent of universal copper consumption,
but an economic slowdown has fanned fears of reduced purchases. However, losses were restrict due to the lessening in the copper stockpiles at the London Metal Exchange (LME) on account of the strong need for the commodity. LME copper stocks fell by 2625 metric tonnes to 584000 metric tonnes as on October 8, 2015. Copper prices might be rise as investors now look ahead to upcoming US data which may determine the health of the world’s biggest economy. At the MCX, Copper futures for November 2015 contract closed at Rs 339.85 per 1 kg, down by 0.98% after starting at Rs 342.85 against the previous closing price of Rs 343.20. It touched the intra-day low of Rs 336.85 till the closing.
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