 "Copper falls 0.3% on weak Asian cues")
Tracking a weak Asian trend, copper prices fell by 0.28% to Rs 406.70 per kg in futures trade today as speculators offloaded their positions.
At the Multi Commodity Exchange (MCX), the June contract fell Rs 1.15, or 0.28%, to Rs 406.70 per kg in 1,845 lots.
The August contract fell by a similar margin to Rs 412 per kg in 166 lots.
Meanwhile, copper for delivery in September fell as much as 1.3% to 52,230 yuan ($8,523) a metric tonne on the Shanghai Futures Exchange (SFEX), while the London Metal Exchange (LME) is closed for a public holiday.
At the Multi Commodity Exchange (MCX), the June contract fell Rs 1.15, or 0.28%, to Rs 406.70 per kg in 1,845 lots.
The August contract fell by a similar margin to Rs 412 per kg in 166 lots.
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Analysts attributed the fall in copper futures to weak Asian cues on speculation that Chinese leaders' tolerance for a slower growth rate will curb demand growth at the largest user.
Meanwhile, copper for delivery in September fell as much as 1.3% to 52,230 yuan ($8,523) a metric tonne on the Shanghai Futures Exchange (SFEX), while the London Metal Exchange (LME) is closed for a public holiday.
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