Copper weakens 0.7% global cues

Subdued demand in spot market put pressure on the trade

Press Trust of India New Delhi
Last Updated : Apr 22 2013 | 2:34 PM IST
Copper futures for June traded Rs 2.50, or 0.65%, to Rs 380.15 per kg in 1,190 lots.     

At the Multi Commodity Exchange (MCX), the April contract went down by Rs 2.30, or 0.61%, to Rs 373.95 per kg in 8,584 lots.

Prices fell as speculators reduced their positions.

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Subdued demand in spot market also put pressure.

Weak global trend amid concerns that earthquake in China's Sichuan province will hurt demand for the metal in the near-term before it boosts consumption in the reconstruction affected the trade.

On the London Metal Exchange (LME), the three-month contract dropped as much as 1.5% to $6,888.75 per tonne.

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First Published: Apr 22 2013 | 2:33 PM IST

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