Copper futures fall 0.42% on weak global cues

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Press Trust of India New Delhi
Last Updated : Aug 21 2015 | 5:22 PM IST
Tracking a weak global trend, copper prices were down 0.42 per cent to Rs 334.60 per kg in futures trade today as speculators offloaded bets.
Besides, subdued demand from consuming industries at domestic spot market fuelled the downtrend.
At the Multi Commodity Exchange, copper for delivery in August fell Rs 1.40, or 0.42 per cent to Rs 334.60 per kg in business turnover of 25,366 lots.
Similarly, metal for delivery in far-month November traded lower by Rs 1.30, or 0.38 per cent to Rs 340.20 per kg in 1,489 lots.
Analysts attributed the fall to a weak global trend after Chinese manufacturing gauge fell to the lowest in more than six years, underscoring the threat to metals demand in the world's biggest consumer.
Meanwhile, copper for delivery in three months fell 1.6 per cent to USD 5,035 a metric tonne on the London Metal Exchange.
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First Published: Aug 21 2015 | 5:22 PM IST

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