Copper falls by 1.3% on global cues

Copper prices fell by 1.25% to Rs 469.50 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 November month fell by Rs 5.95, or 1.25% to Rs 469.50 per kg in business turnover of 979 lots.

     

Similarly, the metal for delivery in August traded lower by Rs 5.76, or 1.23% to Rs 461.50 per kg in 7,777 lots.

 

Analysts attributed the fall in copper futures to a weak global trend on concerns tapering of stimulus in the US curbs demand of industrial metals.

 

     

Meanwhile, copper fell 0.4% to 7,368.50 dollar a metric tonne on the London Metal Exchange.