Copper down 0.2% on global cues
Metal for delivery in November shed 0.23%
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Tracking a weak global trend, copper prices fell by 0.29% to Rs 441.15 per kg in futures trade today as speculators offloaded their positions.
At the Multi Commodity Exchange, copper for delivery in November fell Rs 1.30, or 0.29%, to Rs 453.40 per kg in business turnover of 62 lots.
Similarly, the metal for delivery in November shed Re one, or 0.23% to Rs 441.15 per kg in 1,457 lots.
Analysts said speculators offloaded their positions in tandem with a weak global trend on concern about demand in top-buyer China as data showed investment in power plants and infrastructure in the country is slowing, mainly influenced copper prices at futures trade.
Meanwhile, copper for delivery in three months fell 0.4 to USD 6,962.75 a tonne on the London Metal Exchange.
At the Multi Commodity Exchange, copper for delivery in November fell Rs 1.30, or 0.29%, to Rs 453.40 per kg in business turnover of 62 lots.
Similarly, the metal for delivery in November shed Re one, or 0.23% to Rs 441.15 per kg in 1,457 lots.
Analysts said speculators offloaded their positions in tandem with a weak global trend on concern about demand in top-buyer China as data showed investment in power plants and infrastructure in the country is slowing, mainly influenced copper prices at futures trade.
Meanwhile, copper for delivery in three months fell 0.4 to USD 6,962.75 a tonne on the London Metal Exchange.
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First Published: Nov 15 2013 | 6:27 PM IST