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Copper futures extend slide on global cues

Business Finance

Press Trust of India  |  New Delhi 

Copper prices drifted down by 0.35 per cent to Rs 415.40 per kg in futures market today as speculators reduced bets, driven by a weak trend overseas.

At the Multi Commodity Exchange, copper for delivery in August fell by Rs 1.45, or 0.35 per cent to Rs 415.40 per kg in business turnover of 943 lots.

Likewise, the metal for delivery in November declined by Rs 1.35, or 0.32 per cent to Rs 422.75 per kg in 18 lots.

Analysts said sentiment remained subdued after London Metal Exchange copper prices were lower for a third day, as the prospect of an all-out Sino-US trade war continued to outweigh a looming strike at the world's largest copper mine.

Meanwhile, copper for delivery in three month slipped 0.4 per cent to USD 6,114.50 a tonne on the London Metal Exchange.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, August 03 2018. 11:00 IST