Base Metals Preview: Mixed Economic Cues Weigh On Copper

Base Metals Preview: Mixed Economic Cues Weigh On Copper

Dec 06, 2019 03:12 IST capital market

Mixed economic cues weighed on Copper yesterday as the red metal attempted to extend a pullback from six week low. The counter currently trades at $2.66 per pound, unchanged on the day. MCX Copper futures closed at Rs 430.45 per kg, down 0.15% on the day. New orders for US manufactured goods increased in the month of October, according to a report released by the Commerce Department on Thursday. The Commerce Department said factory orders rose by 0.3% in October after falling by a revised 0.8% in September. Germanys factory orders fell a seasonally and calendar adjusted 0.4%month-on-month in October following a 1.5% increase in September, which was revised from the initially reported 1.3% gain, preliminary figures from the Federal Statistical Office showed on Thursday. Domestic orders dropped 3.2%, while foreign demand grew 1.5%.

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