COPPER
Copper prices fell by 0.66 per cent on Wednesday at the domestic markets after manufacturing activity in France contracted unexpectedly in December according to data released, fuelling concerns over the outlook for the euro zone’s second largest economy which reduced the demand outlook for the metal. Research group Markit said its preliminary French manufacturing purchasing managers’ index fell to 47.9 this month from a final reading of 48.4 in November. Analysts had expected the index to tick up to 48.6. At the MCX, copper futures for February 2015 contract were trading at Rs.406.05 per 1 kg, down by 0.66 percent, after opening at Rs. 408.15 against the previous closing price of Rs. 408.75. It touched the intra-day low of Rs. 405.50 till the trading. (At 4.25 PM).
Copper prices fell by 0.66 per cent on Wednesday at the domestic markets after manufacturing activity in France contracted unexpectedly in December according to data released, fuelling concerns over the outlook for the euro zone’s second largest economy which reduced the demand outlook for the metal. Research group Markit said its preliminary French manufacturing purchasing managers’ index fell to 47.9 this month from a final reading of 48.4 in November. Analysts had expected the index to tick up to 48.6. At the MCX, copper futures for February 2015 contract were trading at Rs.406.05 per 1 kg, down by 0.66 percent, after opening at Rs. 408.15 against the previous closing price of Rs. 408.75. It touched the intra-day low of Rs. 405.50 till the trading. (At 4.25 PM).
LEADLead prices fell by 2.05 per cent on Wednesday at the domestic markets as a result of low demand for the commodity from battery-maker in the spot market in the midst of weak overseas trend. At the MCX, Lead futures, for the December 2014 contract, is trading at Rs 119.55 per kg, down by 2.05 percent, after opening at Rs 122, against a previous close of Rs 122.05. It touched an intra-day low of Rs 119.25 till the trading. (At 3.51 PM).
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