Copper down 0.5% on global cues, subdued demand

Expectations of a stimulus from US's Federal Reserve also pulled prices lower

Copper prices declined by 0.52 per cent to Rs 428.75 per kg in futures trade today in line with a weakening trend overseas amid sluggish domestic demand.

At Multi Commodity Exchange, copper for delivery in November declined by Rs 2.25, or 0.52 per cent, to Rs 428.75 per kg, with a business turnover of 18 lots.

The August contract traded lower by Rs 2, or 0.50 per cent, to Rs 424.75 per kg, with a business turnover of 11 lots.

Marketmen said besides sluggish domestic demand, a weak trend in overseas markets on speculation that US policy makers will not embark on a fresh round of stimulus, led to a fall in copper prices at futures trade.

Meanwhile, copper for three-month delivery slipped as much as one per cent to USD 7,565 a tonne on the London Metal Exchange, the cheapest since August 22. PTI SUN RS YB