Copper down 0.2% on global cues
Metal for delivery in three months retreated 0.5%
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Copper prices fell by 0.23% to Rs 468.60 per kg in futures trade today as speculators trimmed positions, tracking a weak global trend.
At the Multi Commodity Exchange, copper for delivery in February fell by Rs 1.10, or 0.23%, to Rs 468.60 per kg in business turnover of 1772 lots.
Similarly, the metal for delivery in far-month April traded lower by Rs 1.05, or 0.22%, to Rs 473.65 per kg in 52 lots.
Analysts attributed the fall in copper prices to a weak global trend after a gauge of China's services industry fell, stoking concern that demand will weaken in the biggest consumer.
Meanwhile, copper for delivery in three months retreated 0.5%, the steepest loss since December 19, to USD 7,357 a metric tonne.
At the Multi Commodity Exchange, copper for delivery in February fell by Rs 1.10, or 0.23%, to Rs 468.60 per kg in business turnover of 1772 lots.
Similarly, the metal for delivery in far-month April traded lower by Rs 1.05, or 0.22%, to Rs 473.65 per kg in 52 lots.
Analysts attributed the fall in copper prices to a weak global trend after a gauge of China's services industry fell, stoking concern that demand will weaken in the biggest consumer.
Meanwhile, copper for delivery in three months retreated 0.5%, the steepest loss since December 19, to USD 7,357 a metric tonne.
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First Published: Jan 03 2014 | 2:26 PM IST