Breaking News

You are here » Indian-Commodity  :  Commodities  :  Copper  :  Copper futures trade lower on MCX

12-Aug2016

Copper futures trade lower on MCX

Copper futures traded lower on MCX as investors exited positions in the industrial metal as a worsening economic slowdown in China, the world's biggest metals consumer, threatened to curb consumption. China's industrial output growth slowed to 6 percent, year-on-year in July 2016, from 6.2 percent in June 2016, while retail sales climbed 10.2 percent, compared to 10.6 percent. Further, fixed asset investment, a key growth driver, rose 8.1 percent in the first seven months of the year, compared to an estimated 8.9 percent by analysts.

The contract for August delivery was trading at Rs 321.95, down by 0.54% or Rs 1.75 from its previous closing of Rs 323.70. The open interest of the contract stood at 23687.00 lots.

The contract for November delivery was trading at Rs 328.15, down by 0.55% or Rs 1.80 from its previous closing of Rs. 329.95. The open interest of the contract stood at 1317.00 lots on MCX.


Related News

View all news

Copper futures trade lower on trade deal concerns

Copper futures traded lower on Monday, pressured by concerns over the outlook for the global economy and metals demand as Washington and Beijing struggled to salvage a deal to end a bitter trade war. Investors......

Copper futures trade marginally higher on improved demand

Copper futures traded marginally higher on MCX as speculators enlarged their exposure amid improved demand at the spot market. Copper prices gained further by tracking firm trend overseas on hopes of easing......

Copper futures trade marginally lower amid weak global cues

Copper futures traded marginally lower on MCX, as red metal overseas is in negative territory amid mounting tensions ahead of crucial trade talks between the United States and China from Thursday, with......

Top News

View all news

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......