CAPITALSTARS MCX COMMODITY COPPER NEWS UPDATE : :07 October 2019
Base Metals
Preview: Copper Sees Modest Buying
COMEX Copper futures edged up from a one month
low amid decent bargain buying. Copper fell on sustained global growth worries
and poor economic data. The metal closed at $2.56 per pound, down 0.55% on the
day. MCX Copper futures closed to Rs 436 per kg, flat on the day. The ISM said
its US non-manufacturing index dropped to 52.6 in September - around three years
low after rising to 56.4 in August. Commerce Department said factory orders
edged down by 0.1% in August after surging up 1.4% in July.
Eurozone private sector expanded at the
slowest pace in more than six years in September, final data from IHS Market
showed Thursday. The final composite output index fell to 50.1 in September
from 51.9 in August, sliding even below the flash estimate of 50.4. Manufacturers
logged the sharpest fall in output for nearly seven years in September. The
services Purchasing Managers' Index came in at 51.6, down from 53.5 in the
previous month.
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