Copper down 0.8% on global cues
Analysts attributed the fall in copper futures to a weak global trend
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Amid a weak trend overseas and subdued demand at spot market, copper prices fell by 0.88% to Rs 469.90 per kg in futures trade today.
At the Multi Commodity Exchange, copper for delivery in February month fell by Rs 4.15, or 0.88%, to Rs 469.90 per kg in business turnover of 159 lots.
Similarly, the metal for delivery in November traded lower by Rs 4.05, or 0.87%, to Rs 460 per kg in 3,751 lots.
Analysts attributed the fall in copper futures to a weak global trend after a Federal Reserve official said policy makers may start reducing US fiscal stimulus as early as next month and subdued demand at spot market here.
Meanwhile, copper for three-month delivery fell 0.80% on the London Metal Exchange.
At the Multi Commodity Exchange, copper for delivery in February month fell by Rs 4.15, or 0.88%, to Rs 469.90 per kg in business turnover of 159 lots.
Similarly, the metal for delivery in November traded lower by Rs 4.05, or 0.87%, to Rs 460 per kg in 3,751 lots.
Analysts attributed the fall in copper futures to a weak global trend after a Federal Reserve official said policy makers may start reducing US fiscal stimulus as early as next month and subdued demand at spot market here.
Meanwhile, copper for three-month delivery fell 0.80% on the London Metal Exchange.
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First Published: Sep 24 2013 | 4:28 PM IST