Breaking News

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

19-Aug2016

Copper futures trade lower on MCX

Copper futures traded lower on MCX as speculators exited positions in the industrial metal amid weak physical demand for copper in the domestic spot market. Traders cast aside upbeat US economic data which showed a drop in jobless claims and acceleration in US leading index, signaling a pickup in the country's economic growth, and improving the metal's demand outlook. US jobless claims fell 4,000 to 262,000 last week while a leading index rose 0.4 per cent in July from June, when it climbed 0.3 per cent.

The contract for August delivery was trading at Rs 320.25, down by 0.12% or Rs 0.40 from its previous closing of Rs 320.65. The open interest of the contract stood at 26266.00 lots.

The contract for November delivery was trading at Rs 326.80, down by 0.14% or Rs 0.45 from its previous closing of Rs. 327.25. The open interest of the contract stood at 1670.00 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,......