LME Copper prices fell by around 0.7 percent in the last week owing to weak manufacturing data from the biggest consumers coupled with easing concerns of supply disruption after the mines in the world’s biggest producer, Chile resumed normal operations. Also, weak employment data from the US spurred concerns regarding growth in the second largest consumer, thereby exerting downside pressure on prices. Further, mixed global market sentiments along with mixed economic data from the US and Euro Zone acted as negative factors. However, sharp downside was cushioned on the back of expectations of additional stimulus from China coupled with positive economic data from Germany. Also, decline in inventories by 3.5 percent supported pricesZOID RESEARCH 7-APR-2014 : COPPER
LME Copper prices fell by around 0.7 percent in the last week owing to weak manufacturing data from the biggest consumers coupled with easing concerns of supply disruption after the mines in the world’s biggest producer, Chile resumed normal operations. Also, weak employment data from the US spurred concerns regarding growth in the second largest consumer, thereby exerting downside pressure on prices. Further, mixed global market sentiments along with mixed economic data from the US and Euro Zone acted as negative factors. However, sharp downside was cushioned on the back of expectations of additional stimulus from China coupled with positive economic data from Germany. Also, decline in inventories by 3.5 percent supported prices
Subscribe to:
Post Comments (Atom)
0 comments: