CAPITALSTARS MCX COMMODITY COPPER NEWS UPDATE : : 02 August 2019
 |
| Capitalstars Investment Advisor |
- Base Metals Preview: Copper Slides Near Two Month Low
COMEX Copper fell near two month low of 2.60 per pound as US equities witnessed a steep slide after President Donald Trump announced plans to impose a 10% tariff on the remaining $300 billion worth of Chinese imports. DOW fell 1.1% on the day and took the red metal down. The commodity currently trades at $2.62 per pound, flat on the day. MCX Copper futures closed down 0.93% at Rs 440 per kg after testing a low of Rs 438.80 per kg.
The ISM said its US purchasing managers index fell to 51.2 in July after edging down to 51.7 in June. With the continued decrease, the purchasing managers index dropped to its lowest level since hitting 49.6 in August of 2016. China Caixin factory Purchasing Managers' Index rose to 49.9 in July from 49.4 in June, survey data from IHS Markit showed. A reading below 50 indicates contraction. Chinese factory production was little-changed following a decline in June amid a slight increase in overall new orders. Subdued demand conditions prompted Chinese firms to lower their workforce numbers again in July, noted HIS Markit.
CLICK HERE FOR GET DETAILS & JOIN OUR BEST ADVISORY -
- Visit our Link : https://bit.ly/2u2GUhKCAPITALSTARS CALL US : 9977499927Equity Tips , Intraday Stock Tips , FreeTrading Tips , Sebi Registered advisory
Capitalstars Financial Research Private Limited is a research house and an investment advisory group.
No comments:
Post a Comment