Copper down 0.4% on global cues
Metal for delivery in February fell by0.35%
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Copper futures fell by 0.41% to Rs 464.70 today as speculators engaged in trimming their positions amid a subdued trend in the global markets.
At the Multi Commodity Exchange, copper for delivery in April next year declined by Rs 1.90, or 0.41%, to Rs 464.70 per kg in business turnover of 37 lots.
The metal for delivery in February fell by Rs 1.60, or 0.35%, to Rs 460.15 per kg in a business volume of 972 lots.
A weak trend in base metals overseas as manufacturing data for China missed estimates and speculation that the US central bank will cut stimulus at its two-day Federal Reserve meeting starting tomorrow largely put pressure on copper futures here, analysts said.
Globally, copper for delivery in three-months traded 0.30% lower at $7,232.25 per tonne at the London Metal Exchange.
At the Multi Commodity Exchange, copper for delivery in April next year declined by Rs 1.90, or 0.41%, to Rs 464.70 per kg in business turnover of 37 lots.
The metal for delivery in February fell by Rs 1.60, or 0.35%, to Rs 460.15 per kg in a business volume of 972 lots.
A weak trend in base metals overseas as manufacturing data for China missed estimates and speculation that the US central bank will cut stimulus at its two-day Federal Reserve meeting starting tomorrow largely put pressure on copper futures here, analysts said.
Globally, copper for delivery in three-months traded 0.30% lower at $7,232.25 per tonne at the London Metal Exchange.
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First Published: Dec 16 2013 | 12:37 PM IST