 "Copper down 0.3% as trend weakens")
Tracking a weak global trend, copper futures traded 0.32 per cent lower at Rs 338.650 per kg today as speculators offloaded bets.
Furthermore, subdued demand at domestic spot market pushed down metal prices.
At Multi Commodity Exchange, copper for delivery in August shed Rs 1.10, or 0.32 per cent, to Rs 338.65 per kg in a business turnover of 425 lots.
Analysts attributed the fall to weakness in base metals at the London Metal Exchange (LME) after yuan's devaluation shook commodities markets and repriced the value of China's imports and exports of raw materials.
Meanwhile, copper dropped 0.3 per cent to USD 5,170 per tonne at LME.
Furthermore, subdued demand at domestic spot market pushed down metal prices.
At Multi Commodity Exchange, copper for delivery in August shed Rs 1.10, or 0.32 per cent, to Rs 338.65 per kg in a business turnover of 425 lots.
Also Read
Also, metal for delivery in far-month November contract was trading down 95 paise, or 0.27 per cent, at Rs 345.15 per kg in 16 lots.
Analysts attributed the fall to weakness in base metals at the London Metal Exchange (LME) after yuan's devaluation shook commodities markets and repriced the value of China's imports and exports of raw materials.
Meanwhile, copper dropped 0.3 per cent to USD 5,170 per tonne at LME.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%