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Copper futures fall 0.29 pc on negative global cues

Press Trust of India  |  New Delhi 

Taking negative cues from overseas markets, copper futures moved down by 0.29 per cent to Rs 486.15 per kg in futures trading today as speculators trimmed their positions.

Besides, muted demand from consuming industries at the domestic spot market put pressure on prices.

At the Multi Commodity Exchange, copper for delivery in June month fell by Rs 1.40, or 0.29 per cent to Rs 486.15 per kg in business turnover of 2,184 lots.

Likewise, the for delivery in far-month August contract was trading lower by Rs 1.40, or 0.28 per cent to Rs 492.25 per kg in 124 lots.

Analysts said cutting down of positions by participants in line with a weak trend overseas amid easing demand at the domestic spot markets led to the fall in copper prices at futures trade.

Globally, copper for delivery in three-month sank 1.3 per cent to USD 7,236.00 per metric tonne on the London Exchange.

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

First Published: Fri, June 08 2018. 11:00 IST