Copper weakens 0.7% global cues
Subdued demand in spot market put pressure on the trade
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Copper futures for June traded Rs 2.50, or 0.65%, to Rs 380.15 per kg in 1,190 lots.
At the Multi Commodity Exchange (MCX), the April contract went down by Rs 2.30, or 0.61%, to Rs 373.95 per kg in 8,584 lots.
Prices fell as speculators reduced their positions.
Subdued demand in spot market also put pressure.
Weak global trend amid concerns that earthquake in China's Sichuan province will hurt demand for the metal in the near-term before it boosts consumption in the reconstruction affected the trade.
On the London Metal Exchange (LME), the three-month contract dropped as much as 1.5% to $6,888.75 per tonne.
At the Multi Commodity Exchange (MCX), the April contract went down by Rs 2.30, or 0.61%, to Rs 373.95 per kg in 8,584 lots.
Prices fell as speculators reduced their positions.
Subdued demand in spot market also put pressure.
Weak global trend amid concerns that earthquake in China's Sichuan province will hurt demand for the metal in the near-term before it boosts consumption in the reconstruction affected the trade.
On the London Metal Exchange (LME), the three-month contract dropped as much as 1.5% to $6,888.75 per tonne.
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First Published: Apr 22 2013 | 2:33 PM IST