Copper futures slip 0.95% on global cues

Copper futures prices declined by 0.95 per cent to Rs 438.75 per kg today as speculators reduced their positions, driven by weak global trends.

At the Multi Commodity Exchange, copper for delivery in June fell by Rs 4.20, or 0.95 per cent, to Rs 438.75 per kg, with a business turnover of three lots.

Similarly, the metal for delivery in February traded lower by Rs 3.75, or 0.86 per cent, to Rs 430.10 per kg, with a business volume of 49 lots.

Market analysts said offloading of positions by speculators, triggered by weak trend in global market on concerns that escalating geo-political tensions may derail the global economic recovery.

 

Meanwhile, copper remained weak for the third straight day and three-month delivery declined further by 0.7 per cent to $9,514 per tonne on the London Metal Exchange.