Copper down 0.3% on weak global cues
Metal for delivery in far-month August traded lower by 0.24%
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Tracking a weak global trend, copper prices fell 0.32% to Rs 405.65 per kg in futures trade today as speculators offloaded positions.
Further, subdued demand at domestic spot market weighed on metal prices.
At the Multi Commodity Exchange, copper for delivery in June fell Rs 1.30, or 0.32%, to Rs 405.65 per kg in business turnover of 509 lots.
Similarly, the metal for delivery in far-month August traded lower by Re 1, or 0.24%, to Rs 409.25 per kg in two lots.
Analysts attributed the fall in copper futures to weak global cues as the China manufacturing report added to signs of weakness in the world's second-biggest economy and after the Fed's stimulus cut.
Meanwhile, copper dropped by 0.40% to USD 6,618.50 per metric tonne at the London Metal Exchange.
Further, subdued demand at domestic spot market weighed on metal prices.
At the Multi Commodity Exchange, copper for delivery in June fell Rs 1.30, or 0.32%, to Rs 405.65 per kg in business turnover of 509 lots.
Similarly, the metal for delivery in far-month August traded lower by Re 1, or 0.24%, to Rs 409.25 per kg in two lots.
Analysts attributed the fall in copper futures to weak global cues as the China manufacturing report added to signs of weakness in the world's second-biggest economy and after the Fed's stimulus cut.
Meanwhile, copper dropped by 0.40% to USD 6,618.50 per metric tonne at the London Metal Exchange.
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First Published: May 02 2014 | 11:08 AM IST