Copper sheds 0.13% as global trend weakens
subdued demand in the domestic spot market adds to downward pressure on prices
 "Copper sheds 0.13% as global trend weakens")
Tracking a weak global trend, copper futures traded 0.13 per cent lower at Rs 309.95 per kg today as speculators offloaded bets.
Furthermore, subdued demand in the domestic spot market pushed down metal prices.
At the Multi Commodity Exchange, copper for delivery in February next year shed 40 paise, or 0.13 per cent, to Rs 309.95 per kg in a business turnover of 495 lots.
Analysts attributed the fall to weakness in base metals at the London Metal Exchange (LME) after US factory activity in November shrunk at the fastest pace since 2009 and muted demand at the domestic spot markets.
Meanwhile, copper dropped 0.2 per cent at LME.
Furthermore, subdued demand in the domestic spot market pushed down metal prices.
At the Multi Commodity Exchange, copper for delivery in February next year shed 40 paise, or 0.13 per cent, to Rs 309.95 per kg in a business turnover of 495 lots.
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April copper was down by a similar margin at Rs 314.45 per kg in 8 lots.
Analysts attributed the fall to weakness in base metals at the London Metal Exchange (LME) after US factory activity in November shrunk at the fastest pace since 2009 and muted demand at the domestic spot markets.
Meanwhile, copper dropped 0.2 per cent at LME.