Copper falls by 0.6% on global cues

Copper prices fell by 0.61% to Rs 465.80 per kg in futures trade today as speculators trimmed their positions, tracking a weak global trend.

 

At the Multi Commodity Exchange, copper for delivery in August month fell Rs 2.85, or 0.61%, to Rs 465.80 per kg in business turnover of 2,618 lots.

 

On the similar lines, the metal for delivery in far-month November contracts declined by Rs 2.75, or 0.58%, to Rs 473.75 per kg in 336 lots.

 

Market analysts said the fall in copper futures trade was mostly in line with a weakening trend overseas uncertainty about when the US Federal Reserve could ease back on stimulus that has helped fuel gains in commodities in recent years.

 

 

Globally, copper traded $95 lower at USD 7,305 a metric tonne on the London Metal Exchange in yesterday's trade.