Friday, 21 October 2016

Improving US economic outlook lifts Copper : 21 Oct 2016


Copper futures logged modest gains during evening trade in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal as signs of a pickup in the US economy bolstered demand outlook for copper.
Sales of existing homes in the US rose 3.2 per cent in September from the previous month while a leading index for the world’s biggest economy climbed 0.2 per cent last month.
At the MCX, copper futures for November 2016 contract is trading at Rs 311.70 per kg, up by 0.10 per cent, after opening at Rs 312.05, against a previous close of Rs 311.4. It touched the intra-day high of Rs 312.15

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