Copper down 2.6% on subdued demand

Prices fell as speculators engaged in trimming their positions

Press Trust of India New Delhi
Last Updated : Apr 18 2013 | 2:03 PM IST
Copper futures for June declined by Rs 10.15, or 2.62%, to Rs 377.75 per kg in 1,525 lots.     

At the Multi Commodity Exchange (MCX), the April contract fell by Rs 9.90, or 2.60%, to Rs 371.50 per kg in 14,971 lots.

Prices fell as speculators engaged in trimming their positions.

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Subdued domestic demand also put pressure on metal's prices.

On the London Metal Exchange (LME), the three-month contract plunged as much as 4% to $6,800 per tonne, lowest since October 2011.

Weak overseas trend due to demand concern weighed on copper futures trade here as outlook for global economy continued to weaken.

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First Published: Apr 18 2013 | 2:02 PM IST

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