 "Copper falls by 0.4% on global cues")
Copper prices moved down by 0.41% to Rs 392 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 far-month June shed Rs 1.60 or 0.41% to Rs 392 per kg in a business turnover of 155 lots.
Likewise, the metal for delivery in April month contracts traded lower by Rs 1.20 or 0.31% to Rs 385.75 per kg in 420 lots.
Besides, low demand from domestic industries too had negative impact, they said.
Meanwhile, copper for delivery in three months retreated 0.5% to $6,088.50 per tonne at the LME.
At the Multi Commodity Exchange, copper for delivery in far-month June shed Rs 1.60 or 0.41% to Rs 392 per kg in a business turnover of 155 lots.
Likewise, the metal for delivery in April month contracts traded lower by Rs 1.20 or 0.31% to Rs 385.75 per kg in 420 lots.
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Analysts said the fall in copper prices at futures trade was largely in tune with a weak trend in metal at the London Metal Exchange (LME) before data projected to show economic growth slowed in the US, the second-biggest consumer, and as investors await the outcome of a Federal Reserve policy meeting.
Besides, low demand from domestic industries too had negative impact, they said.
Meanwhile, copper for delivery in three months retreated 0.5% to $6,088.50 per tonne at the LME.
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