Copper down 1.8% on weak overseas cues
Copper for delivery in August shed 1.68%
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Amid a weak overseas cues and sluggish spot demand, copper prices slide by 1.86% to Rs 400.20 per kg in futures trade today as speculators trimmed their positions.
At the Multi Commodity Exchange, copper for delivery in June fell by Rs 7.60, or 1.87%, to Rs 400.20 per kg in business turnover of 21986 lots.
Similarly, copper for delivery in August shed Rs 6.95, or 1.68%, to Rs 405.70 per kg in 2,988 lots.
Analysts attributed the fall in copper futures to weak global cues as inventories climbed to a 10-year high and operations resumed at the Grasberg mine in Indonesia.
Meanwhile,copper dropped 1.3% to $6,728.50 a tonne on the London Metal Exchange.
At the Multi Commodity Exchange, copper for delivery in June fell by Rs 7.60, or 1.87%, to Rs 400.20 per kg in business turnover of 21986 lots.
Similarly, copper for delivery in August shed Rs 6.95, or 1.68%, to Rs 405.70 per kg in 2,988 lots.
Analysts attributed the fall in copper futures to weak global cues as inventories climbed to a 10-year high and operations resumed at the Grasberg mine in Indonesia.
Meanwhile,copper dropped 1.3% to $6,728.50 a tonne on the London Metal Exchange.
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First Published: Jun 24 2013 | 1:12 PM IST