Copper weakens 0.3% on global cues
Prices fell as speculators reduced their positions
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Copper futures for April fell by Rs 1.30, or 0.31%, to Rs 413.20 per kg in 3,298 lots.
At the Multi Commodity Exchange (MCX), the June contract traded lower by Rs 1.15, or 0.27%, to Rs 419.75 per kg in 317 lots.
Prices fell as speculators reduced their positions amid subdued domestic demand.
Weak global trend amid concern that rising supplies will outpace demand from China—the biggest consumer—affected the copper futures here.
On the London Metal Exchange (LME), the three months' contract dropped as much as 0.6% to $7,586.50 per tonne.
At the Multi Commodity Exchange (MCX), the June contract traded lower by Rs 1.15, or 0.27%, to Rs 419.75 per kg in 317 lots.
Prices fell as speculators reduced their positions amid subdued domestic demand.
Weak global trend amid concern that rising supplies will outpace demand from China—the biggest consumer—affected the copper futures here.
On the London Metal Exchange (LME), the three months' contract dropped as much as 0.6% to $7,586.50 per tonne.
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First Published: Apr 10 2013 | 2:31 PM IST