Copper falls more than 1% on global cues
Subdued domestic demand affected the trade
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Copper futures for April fell by Rs 5.50, or 1.36%, to Rs 399 per kg in 30,989 lots.
At the Multi Commodity Exchange (MCX), the June contract traded lower by Rs 5.45, or 1.32%, to Rs 406 per kg in 2,913 lots.
Prices fell as speculators reduced their positions.
Amid weak global cues and subdued domestic demand,
Weakening overseas trend as data from China missed economists' forecasts that raised concern that demand from the biggest user is faltering has a negative impact on the trade.
Besides, subdued spot market demand also put pressure on the trade.
On the London Metal Exchange (LME), the three-month contract fell as much as 1.1% to $7,323 per tonne, lowest since August 3.
At the Multi Commodity Exchange (MCX), the June contract traded lower by Rs 5.45, or 1.32%, to Rs 406 per kg in 2,913 lots.
Prices fell as speculators reduced their positions.
Amid weak global cues and subdued domestic demand,
Weakening overseas trend as data from China missed economists' forecasts that raised concern that demand from the biggest user is faltering has a negative impact on the trade.
Besides, subdued spot market demand also put pressure on the trade.
On the London Metal Exchange (LME), the three-month contract fell as much as 1.1% to $7,323 per tonne, lowest since August 3.
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First Published: Apr 15 2013 | 2:38 PM IST