Copper down 0.2% on global cues

Metal for delivery in February last year fell by 0.25%

Copper futures fell 0.27% to Rs 442.85 per kg today as speculators trimmed positions amid a weak trend in global markets.

 

At the Multi Commodity Exchange, copper for delivery in November declined Rs 1.20, or 0.27%, to Rs 442.85 per kg in a business turnover of 1,105 lots.

 

Similarly, the metal for delivery in February last year fell by Rs 1.15, or 0.25%, to Rs 453.25 per kg in 131 lots.

 

Analysts attributed the decline to a weak trend at the London Metal Exchange (LME) on concern that the Federal Reserve may start reducing stimulus in coming months amid improving US economic data, reducing the demand outlook for the metal.

 

Globally, copper for delivery in three-months traded 0.4% lower at $7,068 per tonne on the LME.