Copper weakens 0.3% on global cues

Subdued demand influences prices

Amid a weak global trend and sluggish demand in the spot market, copper prices traded lower by Rs 1.35 to Rs 432.45 per kg in futures trade today.

At the Multi Commodity Exchange, copper for delivery in November declined by Rs 1.35, or 0.31%, to Rs 432.45 per kg, with a business turnover of 29,783 lots.

February copper traded lower by the same margin to Rs 437.95 per kg, with a business turnover of 1,955 lots.

Marketmen said apart from a weak trend in overseas markets, subdued demand in the spot market put pressure on copper prices at futures trade.

 

Meanwhile, copper for delivery in three months lost 1.6% to $8,163 a tonne on the London Metal Exchange, the lowest price since October 1.