Copper down 0.1% on global cues
Metal for delivery in February traded lower by 0.06%
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Amid a weak trend overseas and sluggish spot demand, copper prices fell marginally by 0.11% to Rs 464.35 per kg in futures trade today.
At the Multi Commodity Exchange, copper for delivery in November fell by 50 paise, or 0.11%, to Rs 464.35 per kg in business turnover of 6,193 lots.
Similarly, copper for delivery in February traded lower by 30 paise, or 0.06%, to Rs 473.65 per kg in 214 lots.
Analysts attributed the fall in copper futures to a weak global trend where it dropped to almost one-week low on speculation that the US Federal Reserve will commit to reducing stimulus next week.
Meanwhile, copper fell 0.50% to trade at 7,138 dollar a tonne on the London Metal Exchange, the lowest since September 6, while at Shanghai Futures Exchange, metal for delivery in December declined 0.7% to 51,700 yuan (USD 8,450) a tonne.
At the Multi Commodity Exchange, copper for delivery in November fell by 50 paise, or 0.11%, to Rs 464.35 per kg in business turnover of 6,193 lots.
Similarly, copper for delivery in February traded lower by 30 paise, or 0.06%, to Rs 473.65 per kg in 214 lots.
Analysts attributed the fall in copper futures to a weak global trend where it dropped to almost one-week low on speculation that the US Federal Reserve will commit to reducing stimulus next week.
Meanwhile, copper fell 0.50% to trade at 7,138 dollar a tonne on the London Metal Exchange, the lowest since September 6, while at Shanghai Futures Exchange, metal for delivery in December declined 0.7% to 51,700 yuan (USD 8,450) a tonne.
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First Published: Sep 12 2013 | 12:46 PM IST