Copper falls by 1.2% on global cues

Sluggish spot demand also affected prices

Copper prices fell marginally by 0.19% to Rs 457.45 per kg in futures trade today amid a weak overseas trend and sluggish spot demand.

 

At the Multi Commodity Exchange, copper for delivery in November shed 85 paise, or 0.19%, to Rs 457.45 per kg in business turnover of 1,050 lots.

 

Similarly, the metal for delivery in February traded lower by 40 paise, or 0.09%, to Rs 467.55 per kg in 105 lots.

 

Analysts attributed the fall in copper futures to a weak global trend as reports showed the US economy improved, boosting the case that the Federal Reserve may reduce its stimulus.

 

Meanwhile, copper for delivery in three months fell 0.30% to trade at $7,227 a tonne at the London Metal Exchange, while on the Shanghai Futures Exchange, metal for delivery in December was little changed at 52,340 yuan ($8,548) per tonne.