Copper falls by 0.9% on global cues

Subdued demand at domestic spot markets also affected prices

Copper prices fell by 0.89% to Rs 450.35 per kg in futures trade today amid a weak overseas trend and subdued spot demand.

At the Multi Commodity Exchange, copper for delivery in November fell by Rs 4.05, or 0.89%, to Rs 450.35 per kg in business turnover of 1,741 lots.

 

Similarly, the metal for delivery in February, next year traded lower by Rs 3.35, or 0.72%, to Rs 461.70 per kg in 74 lots.

 

Analysts attributed the fall in copper futures to a weak global trend on concern that the US political impasse could lead to a recession in the world's biggest economy and subdued demand at domestic spot markets.

 

    

Meanwhile, copper for delivery in three months traded lower at $7,180 a tonne at the London Metal Exchange.