Tuesday, November 24, 2015

Copper futures were trading with slim Gains

 Base Metal Tips - Copper futures were trading with slim gains during noon trade in the domestic market on Tuesday as signs of a rebound in the Japanese economy offset concerns that a worsening economic slowdown in China may curb demand for industrial metals.  Factories in Japan boosted production at the fastest pace in 20 months as the country’s manufacturing PMI climbed to 52.8 in November from 52.4 in October, with a reading above 50 signaling expansion, an indication that the world’s third biggest economy may have bounced back from a recession, in the last quarter of 2015.
However, the gains in copper were trimmed by ongoing worries over China’s economy which is tipped to grow at the weakest pace in more than two decades in 2015.
At the MCX, Copper futures for November 2015 contract were trading at Rs.297.15 per kg, up by 0.19 per cent, after opening at Rs. 296.6, against the previous closing price of Rs. 296.6. It touched an intraday high of 298.35.