Copper down by 0.3% on global cues

A subdued trend overseas and low spot demand affected prices

Amid a subdued trend overseas and low spot demand, copper prices fell by 0.28% to Rs 465.10 per kg in futures trade today.

 

At the Multi Commodity Exchange, copper for delivery in far-month February fell by Rs 1.30, or 0.28%, to Rs 465.10 per kg in business turnover of 54 lots.

 

Similarly, the metal for delivery in November traded lower by Rs 1.10, or 0.24%, to Rs 455.40 per kg in 1,799 lots.

 

Analysts attributed the fall in copper futures to a weak global trend on slowing demand in China before next week's holidays and on concern that US budget negotiations are stalling.

 

Meanwhile, three months copper fell 0.40% to trade at 7,169.50 dollar a tonne on the London Metal Exchange.