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Copper futures down on weak global cues

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Press Trust of India New Delhi

Copper fell marginally by 0.12% in futures trade today as speculators off-loaded their positions, in tune with a weakening trend globally.

At the Multi Commodity Exchange, copper for delivery in June declined by 50 paise, or 0.12%, to Rs 407.15 per kg, with a business turnover of 4,021 lots.

Similarly, the metal for delivery in August lost 45 paise, or 0.11%, to Rs 412.25 per kg, with an open interest of 332 lots. 

Market analysts said a weak trend on the London Metal Exchange amid disappointing US data and the unfolding Greek debt crisis mainly put pressure on copper prices in futures trade here.

 

Meanwhile, copper for three-month delivery fell by 0.7% to $9,090 a tonne on the London Metal Exchange.

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First Published: Jun 16 2011 | 3:11 PM IST

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