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Copper futures weaken on global cues, down 0.28%

Press Trust of India  |  New Delhi 

Amid a weak trend overseas, copper prices fell by 0.28 per cent to Rs 370.05 per kg in futures market today as participants engaged in reducing their positions.

At the Multi Commodity Exchange, copper for delivery in far-month August declined by Rs 1.05, or 0.28 per cent to Rs 370.05 per kg in business turnover of 121 lots.

Likewise, the metal for delivery in June contracts traded lower by 80 paise, or 0.22 per cent to Rs 366.25 per kg in 3,697 lots.

Analysts said offloading of positions by participants on the back of a weak trend overseas mainly kept pressure on copper prices at futures trade.

Globally, copper for delivery in three-months fell 0.7 per cent to USD 5,661 Metric a tonne on the Metal Exchange in yesterday's trade, in a fourth straight decline, the longest stretch of losses since March 9.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, June 16 2017. 11:57 IST