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Copper Prices Edges Down on China Demand Concern
Friday, 03 April 2015 13:52

Copper Prices Edges Down on China Demand Concern

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Copper Contract for February fell by 0.53% to Rs.444.05 at Multi Commodity Exchange at 0945 GMT.

China, the largest consumer of metals, raised demand concern for this metal. Slow industrial growth, contraction in manufacturing activity and tight liquidity condition has triggered sell off among investors.

In trade balance data it was observed that copper import increased in last quarter of the year. But this year in beginning demand declined and inventory was surging as manufacturing industry slows down.

Tight liquidity market may reduce fund availability to investors. Importers are using metals as collateral while taking loans. Falling price also elevates financial risks and ultimately reduces trade finance to these buyers.

U.S., second largest metal consumer, is also on slow growth track. Recently below expected results of manufacturing and industrial indices have signed fall in demand.

The metal has already got weak start this year after falling near to 7% last year. Increase in production and declining demand may further push copper prices into bearish trend.

 

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