Tag: Copper

Copper futures up on rising demand

Copper futures up on rising demand

18/09/2017 17:37

Copper futures were trading higher during the evening trade in the domestic market on Monday amid a firming global trend and pick up in spot demand.

Marketmen attributed the rise in copper futures to a firming trend in base metals in global market as housing data from China showed continued gains for prices. Rising demand from consuming industries at domestic spot markets supported the upside, they said.

At the MCX, copper futures for November 2017 contract was trading at Rs 423.95 per kg, up by 0.92 per cent, after opening at Rs 421.90, against a previous close of Rs 420.10. It touched the intra-day high of Rs 425.20 (at 17:40 hours).

Copper futures down 0.49% on subdued spot demand

Copper futures down 0.49% on subdued spot demand

14/08/2017 12:10

Copper futures were trading lower during the noon trade in the domestic market on Monday amid muted demand in the domestic spot markets and profit-booking by speculators.

Analysts attributed the fall in copper prices at futures trade to a weak demand at the domestic spot markets amid profit-booking at higher levels, led to the decline in copper prices in futures trade.

At the MCX, copper futures for August 2017 contract was trading at Rs 410.25 per kg, down by 0.49 per cent, after opening at Rs 412.00, against a previous close of Rs 412.25. It touched the intra-day low of Rs 410.05 (at 12:10 hours).

Copper futures down 0.16% on subdued demand

Copper futures down 0.16% on subdued demand

28/07/2017 16:35

Copper futures were trading lower during the evening trade in the domestic market on Friday as speculators booked profits at prevailing high levels amid low demand at spot markets.

Analysts attributed the fall to offloading of positions by speculators at prevailing higher levels coupled with subdued spot demand.

At the MCX, copper futures for August 2017 contract is trading at Rs 407.35 per kg, down by 0.16 per cent, after opening at Rs 407.05, against a previous close of Rs 408.00. It touched the intra-day low of Rs 403.50 (at 16:40 hours).

Copper futures rise on pickup in spot demand

Copper futures rise on pickup in spot demand

11/07/2017 14:08

Copper futures were trading higher during the afternoon trade in the domestic market on Tuesday amid pick-up in demand at domestic spot market.

Analysts said pick-up in demand from consuming industries in the spot market mainly supported the upside in copper futures here but weak trend in overseas markets capped the gains.

At the MCX, copper futures for August 2017 contract is trading at Rs 380.40 per kg, up by 0.30 per cent, after opening at Rs 378.80, against a previous close of Rs 379.25. It touched the intra-day high of Rs 381.25 (at 14:15 hours).

Copper in reverse gear as risk aversion climbs

05/06/2017 14:27

Copper futures slipped over 1 per cent during afternoon trade in the domestic market on Monday as investors and speculators exited their positions in the industrial metal as risk aversion climbed following a terror attack in London.

However, falling mine supply growth, restricted further fall in copper prices.

At the MCX, copper futures for June 2017 contract is trading at Rs 363.20 per kg, down by 1.05 per cent, after opening at Rs 365.60, against a previous close of Rs 367.05. It touched the intra-day low of Rs 361.80 (at 14:18 hours).

Copper in reverse gear on demand worries

Copper in reverse gear on demand worries

02/06/2017 14:16

Copper futures slipped over 1 per cent during afternoon trade in the domestic market on Friday as investors and speculators exited their positions in the industrial metal on concerns over weakening demand and oversupply.

Besides, investors shifted their focus towards equities from hard commodities tracking robust US and European industrial data.

At the MCX, copper futures for June 2017 contract is trading at Rs 363.80 per kg, down by 1.34 per cent, after opening at Rs 367.25, against a previous close of Rs 368.75. It touched the intra-day low of Rs 362.75 (at 14:10 hours).

Copper sheds after China’s factory activity contracted

Copper sheds after China’s factory activity contracted

01/06/2017 15:41

Copper futures were trading lower during afternoon trade in the domestic market on Thursday as investors and speculators exited their positions in the industrial metal after a survey showed that manufacturing activity weakened in the world’s second-largest economy, China, in May for the first time in almost a year.

The Chinese business magazine Caixin said that its purchasing managers’ index (PMI) declined for a third month, slipping to 49.6 from April’s 50.3, in which numbers below 50 showed contraction.

At the MCX, copper futures for June 2017 contract is trading at Rs 366.25 per kg, down by 0.68 per cent, after opening at Rs 367.90, against a previous close of Rs 368.75. It touched the intra-day low of Rs 366.15 (at 15:31 hours).

Copper futures in reverse gear

Copper futures in reverse gear

25/05/2017 14:23

Copper futures were trading lower during evening trade in the domestic market on Thursday as investors and speculators exited their positions in the industrial metal on slackned demand as Asian equities soared after minutes of the Federal Reserve’s last policy meeting suggested the US central bank was cautious about raising interest rates.

Besides, after credit ratings agency Moody’s Investors Service downgraded China’s credit ratings on Wednesday for the first time in nearly 30 years, saying it expects the financial strength of the economy will erode in coming years as growth slows and debt continues to rise, too influenced copper prices.

At the MCX, copper futures for June 2017 contract is trading at Rs 368.60 per kg, down by 0.78 per cent, after opening at Rs 369.95, against a previous close of Rs 371.50. It touched the intra-day low of Rs 368.40 (at 14:19 hours).

Copper futures plunge 2.41% on firm dollar

Copper futures plunge 2.41% on firm dollar

03/05/2017 16:23

Copper futures fell over 2 per cent during evening trade in the domestic market on Wednesday as investors and speculators exited their positions in the industrial metal on stronger greenback on expectations that the US Fed will signal a June rate hike in the outcome of its two-day policy meeting later in the day.

US Federal Reserve likely to stand pat on key interest rates this time, but expected to drop hints on the possibility of a rate hike in near term.

At the MCX, copper futures for June 2017 contract is trading at Rs 367.05 per kg, down by 2.41 per cent, after opening at Rs 374.65, against a previous close of Rs 376.10. It touched the intra-day low of Rs 366.75 (at 16:16 hours).

Copper futures zoom 1.15% as China returns

Copper futures zoom 1.15% as China returns

05/04/2017 15:11

Copper futures rose over 1 per cent during afternoon trade in the domestic market on Wednesday as investors and speculators extended their positions in the industrial metal as China returned from a 2-day break to buy metals following brighter global manufacturing reports.

Further, traders eyeing for signs of a pick up in physical activity in China in Q1 and all its credit restraints of the last couple of weeks recede.

At the MCX, copper futures for April 2017 contract is trading at Rs 381 per kg, up by 1.15 per cent, after opening at Rs 378, against a previous close of Rs 376.65. It touched the intra-day high of Rs 382.25 (at 14:55 hours).