Copper falls 0.9% on weak global cues
Speculation that China will continue to curb its property market influences prices
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Tracking a weak global trend, copper prices fell by Rs 3.70, or 0.90%, to Rs 406 per kg in futures trade today as speculators offloaded positions.
At the Multi Commodity Exchange, copper for delivery in August fell Rs 3.70, or 0.21%, to Rs 406 per kg in a business turnover of 256 lots.
The metal for delivery in June traded lower by Rs 3.50, or 0.86%, to Rs 402 per kg in 3,57 lots.
Analysts attributed the fall in copper futures to weak global cues on speculation that China will continue to curb its property market, reducing demand for the metal.
Meanwhile, copper fell 0.60% to $7,260 a tonne on the London Metal Exchange.
At the Multi Commodity Exchange, copper for delivery in August fell Rs 3.70, or 0.21%, to Rs 406 per kg in a business turnover of 256 lots.
The metal for delivery in June traded lower by Rs 3.50, or 0.86%, to Rs 402 per kg in 3,57 lots.
Analysts attributed the fall in copper futures to weak global cues on speculation that China will continue to curb its property market, reducing demand for the metal.
Meanwhile, copper fell 0.60% to $7,260 a tonne on the London Metal Exchange.
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First Published: May 20 2013 | 3:56 PM IST