Weak US ISM data drags down Copper futures
05/01/2015 12:13
Copper prices fell by 0.20 per cent on Monday at the domestic markets after U.S. factory sector grew at its slowest pace in six months in December, a sign that weakness in the global economy is weighing on the United States which reduced the demand outlook for the metal. The Institute for Supply Management (ISM) said its index of national factory activity fell to 55.5 last month from 58.7 in November. At the MCX, copper futures for February 2015 contract were trading at Rs.397.25 per 1 kg, down by 0.20 per cent, after opening at Rs. 398 against the previous closing price of Rs. 398.05. It touched the intra-day low of Rs. 396 till the trading. (At 12.09 PM today).
Copper prices fell by 0.20 per cent on Monday at the domestic markets after U.S. factory sector grew at its slowest pace in six months in December, a sign that weakness in the global economy is weighing on the United States which reduced the demand outlook for the metal. The Institute for Supply Management (ISM) said its index of national factory activity fell to 55.5 last month from 58.7 in November. At the MCX, copper futures for February 2015 contract were trading at Rs.397.25 per 1 kg, down by 0.20 per cent, after opening at Rs. 398 against the previous closing price of Rs. 398.05. It touched the intra-day low of Rs. 396 till the trading. (At 12.09 PM today).
