 "Copper prices slid 0.6% on global cues")
Copper prices moved down by 0.58% to Rs 308.25 per kg in futures trade today as speculators cut down their bets amid a weak trend overseas and low demand at spot markets.
Copper for delivery in far-month February next year shed Rs 1.80, or 0.58%, to Rs 308.25 per kg, in a business turnover of six lots at the Multi Commodity Exchange.
Likewise, the metal for delivery in April traded lower by Rs 1.60, or 0.51%, to Rs 312.90 per kg in five lots.
Besides, low demand from domestic industries had a negative impact, they said.
Copper for delivery in three months retreated 0.3% to $4,597.50 a metric tonne at the LME.
Copper for delivery in far-month February next year shed Rs 1.80, or 0.58%, to Rs 308.25 per kg, in a business turnover of six lots at the Multi Commodity Exchange.
Likewise, the metal for delivery in April traded lower by Rs 1.60, or 0.51%, to Rs 312.90 per kg in five lots.
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Analysts said copper prices fell in line with a weak trend in base metals pack at the London Metal Exchange (LME) as investors refocused on poor demand, following gains made in the wake of the US Federal Reserve's hike in rates for the first time in nearly a decade.
Besides, low demand from domestic industries had a negative impact, they said.
Copper for delivery in three months retreated 0.3% to $4,597.50 a metric tonne at the LME.
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