Friday, 8 November 2013

Robust China trade lifts MCX Copper futures

MCX Copper futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal after a report said that China’s export and import growth accelerated last month, signaling a pickup in the world’s second biggest economy, bolstering the demand outlook for copper. China’s exports rose 5.6 per cent in October 2013 from the year ago month while imports surged 7.6 per cent. Investors were eying the US non-farm payrolls data for the month of October due later in the session. 

At the MCX, copper futures for November 2013 contract were trading at Rs. 452.45 per 1 kg, up by 0.15 per cent, after opening at Rs. 452.05, against the previous closing price of Rs. 451.75. It touched an intra-day high of Rs 452.90. 

No comments:

Post a Comment