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| mcx copper tips |
Copper futures soared by over 2.5 per-cent in the native market on Friday last week as investors, observers and speculators booked fresh positions in the industrial metal as investors & speculators cheered the announcements from leading copper producers who told that, they would cut outcome as requirement eases in China, the world’s largest copper consumer.
Further more, China’s lending data topped estimates as credit growth picked up in Nov, easing fears over an economic slowdown in the world’s biggest metals consuming nation, brightening the requirement overview for copper. New local currency loans issued by China’s banks and financial institutions came in at 709 billion Yuan in November, up from Oct's 15-month low of 513.6 billion Yuan.
Copper may expand gains today as China’s industrial outcome, retail sales & fixed-asset investment numbers for Nov, came in better than the expectations bolstering outlook.
At the MCX, Copper futures for February 2016 contract closed at Rs 318.75 per kg, up by 2.69 per cent after opening at Rs 310.7, as compared to the previous ending price of Rs 310.4. It attained the intra-day high of 321.65.
Further more, China’s lending data topped estimates as credit growth picked up in Nov, easing fears over an economic slowdown in the world’s biggest metals consuming nation, brightening the requirement overview for copper. New local currency loans issued by China’s banks and financial institutions came in at 709 billion Yuan in November, up from Oct's 15-month low of 513.6 billion Yuan.
Copper may expand gains today as China’s industrial outcome, retail sales & fixed-asset investment numbers for Nov, came in better than the expectations bolstering outlook.
At the MCX, Copper futures for February 2016 contract closed at Rs 318.75 per kg, up by 2.69 per cent after opening at Rs 310.7, as compared to the previous ending price of Rs 310.4. It attained the intra-day high of 321.65.
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