Copper down 0.4% on weak global cues
Metal for delivery in April fell by 0.38%
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Copper futures prices today fell 0.40% to Rs 408 per kg, as speculators trimmed their positions amid a weak trend in the global markets.
At the Multi Commodity Exchange, copper for delivery in June declined by Rs 1.65, or 0.40%, to Rs 408 per kg in business turnover of 57 lots.
The metal for delivery in April fell by Rs 1.55, or 0.38%, to Rs 404.95 per kg in a business volume of 1,387 lots.
Analysts said speculation that demand for metals will fall as the US Federal Reserve signalled a faster timetable for raising rates and China's growth faltered, putting pressure on copper prices at futures trade here.
Globally, copper for delivery in three-months traded one% lower at $6,485.25 per tonne on the London Metal Exchange. It touched USD 6,321 yesterday, the lowest level since July 2010.
At the Multi Commodity Exchange, copper for delivery in June declined by Rs 1.65, or 0.40%, to Rs 408 per kg in business turnover of 57 lots.
The metal for delivery in April fell by Rs 1.55, or 0.38%, to Rs 404.95 per kg in a business volume of 1,387 lots.
Analysts said speculation that demand for metals will fall as the US Federal Reserve signalled a faster timetable for raising rates and China's growth faltered, putting pressure on copper prices at futures trade here.
Globally, copper for delivery in three-months traded one% lower at $6,485.25 per tonne on the London Metal Exchange. It touched USD 6,321 yesterday, the lowest level since July 2010.
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First Published: Mar 20 2014 | 12:30 PM IST