Copper falls by 0.2% on weak global cues

Weak global cues as investors weighed signs of improvement in the US economy led to the fall

Tracking a weak global trend, copper prices fell by 0.18% to Rs 446.30 per kg in futures trade today as speculators offloaded positions.

 

At the Multi Commodity Exchange, copper for delivery in February next year fell 80 paise, or 0.18%, to Rs 446.30 per kg in business turnover of 642 lots.

 

Similarly, the metal for delivery in April 2014 contracts traded lower by 65 paise, or 0.14%, to Rs 452.50 per kg in 15 lots.

 

Analysts attributed the fall in copper futures to weak global cues as investors weighed signs of improvement in the US economy against concern the Federal Reserve may start trimming its stimulus sooner than estimated.

 

Meanwhile, copper fell 0.2% to $7,057 a tonne on the London Metal Exchange.