Copper fall 0.9% on weak global cues
US retail sales that increased in April triggered the downtrend
 "Copper fall 0.9% on weak global cues")
Tracking a weak global trend, copper prices fell by 0.88% to Rs 405.15 per kg in futures trade today as speculators offloaded their positions.
At the Multi Commodity Exchange (MCX), the June contract fell Rs 3.45, or 0.88%, to Rs 405.15 per kg in 4,593 lots.
Similarly, August contract traded lower by Rs 3.35, or 0.81%, to Rs 409.65 per kg in 285 lots.
Meanwhile, copper fell 0.4% to $7,382.50 a tonne on the London Metal Exchange (LME), while delivery in September on the Shanghai Futures Exchange fell by 0.40% to 53,210 yuan ($8,662) per tonne.
At the Multi Commodity Exchange (MCX), the June contract fell Rs 3.45, or 0.88%, to Rs 405.15 per kg in 4,593 lots.
Similarly, August contract traded lower by Rs 3.35, or 0.81%, to Rs 409.65 per kg in 285 lots.
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Analysts attributed the fall in copper futures to weak global cues even as US retail sales increased in April, indicating growth in the second-largest user may be stronger than expected.
Meanwhile, copper fell 0.4% to $7,382.50 a tonne on the London Metal Exchange (LME), while delivery in September on the Shanghai Futures Exchange fell by 0.40% to 53,210 yuan ($8,662) per tonne.