Dec industrial output growth slows
India's industrial production growth slowed sharply in December, its slowest pace in two months, adding to pressure on the RBI to start cutting interest rates to help stimulate an economy that is headed for its slowest growth in three years. Full Article
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India copper opens lower on dollar, demand fears
MUMBAI |
MUMBAI Oct 22 (Reuters) - India's copper futures continued its slide from the previous session on Wednesday due to waning global demand and a strong dollar, analysts said.
The dollar extended sharp gains against the euro and the pound on Wednesday as investors bet interest rates outside the U.S. will be cut sharply to try to bolster global growth.
A strong dollar makes commodities denominated in the U.S. unit expensive for other currency holders and caps demand.
At 10.30 a.m., the benchmark November copper MCCX8 on the Multi Commodity Exchange of India (MCX) was down 2.67 percent at 220.35 rupees.
Copper prices are expected to remain weak during the day on worries about slackening demand from China and the U.S, the largest consumers of industrial metals, the analyst added.
At 10.31 a.m., October zinc MZIV8 was down 2.62 percent at 55.7 rupees and October lead MLDV8 was down 1.99 percent at 66.65 rupees per kg.
(Reporting by Nandita Bose; Editing by Prem Udayabhanu)
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