 "Copper down 0.1% on global cues, weak demand")
Copper prices moved down by 0.10% to Rs 429.25 per kg in futures trade today as speculators reduced positions amid a weak trend overseas and low demand in the spot market.
At the Multi Commodity Exchange, copper for delivery in August shed 45 paise, or 0.10%, to Rs 429.25 per kg in a business turnover of 699 lots.
Likewise, the metal for delivery in far-month November traded lower by 35 paise, or 0.08%, to Rs 437.15 per kg in 19 lots.
Meanwhile, copper for delivery in three months retreated 0.20% to $7,065.75 a metric tonne at the LME, while metal for delivery in September slid one% to 50,280 yuan ($8,134) per tonne on the Shanghai Futures Exchange.
At the Multi Commodity Exchange, copper for delivery in August shed 45 paise, or 0.10%, to Rs 429.25 per kg in a business turnover of 699 lots.
Likewise, the metal for delivery in far-month November traded lower by 35 paise, or 0.08%, to Rs 437.15 per kg in 19 lots.
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Analysts said the fall in copper prices at futures trade was largely in tune with a weak trend in select base metals at the London Metal Exchange (LME) and subdued demand at domestic spot market.
Meanwhile, copper for delivery in three months retreated 0.20% to $7,065.75 a metric tonne at the LME, while metal for delivery in September slid one% to 50,280 yuan ($8,134) per tonne on the Shanghai Futures Exchange.
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