Copper declines 0.3% on global cues
Sluggish demand in the spot market affects prices
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Copper prices fell 0.28% to Rs 434.25 per kg in futures trade today as speculators trimmed positions amid a weak trend overseas and sluggish demand in the spot market.
At the Multi Commodity Exchange, copper for delivery in August declined by Rs 1.20, or 0.28%, to Rs 434.25 per kg in a business turnover of 1,140 lots.
Similarly, the metal for delivery in November shed Rs 1.05, or 0.24%, to Rs 441.75 per kg in 40 lots.
Analysts attributed the fall in copper prices at futures trade to a weak global trend amid rising supplies.
Meanwhile, copper for delivery in three months retreated 0.3% to $7,150 a metric tonne on the London Metal Exchange.
At the Multi Commodity Exchange, copper for delivery in August declined by Rs 1.20, or 0.28%, to Rs 434.25 per kg in a business turnover of 1,140 lots.
Similarly, the metal for delivery in November shed Rs 1.05, or 0.24%, to Rs 441.75 per kg in 40 lots.
Analysts attributed the fall in copper prices at futures trade to a weak global trend amid rising supplies.
Meanwhile, copper for delivery in three months retreated 0.3% to $7,150 a metric tonne on the London Metal Exchange.
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First Published: Jul 25 2014 | 11:38 AM IST