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Copper prices down 0.4% on overseas cues, profit-booking

Analysts attributed the fall in copper futures to weak global cues

Press Trust of India  |  New Delhi 

Amid a weak trend in the global market and profit-booking by speculators, copper prices fell by 0.42% in futures trade today.

At the Multi Commodity Exchange, copper for delivery in far-month November fell Rs 1.75, or 0.42%, to Rs 414.55 per kg in business turnover of 401 lots.

Analysts attributed the fall in copper futures to weak global cues as a private gauge of China's manufacturing missed estimates, curbing demand prospects from the world's biggest user of the metals.

Globally, copper for delivery in three months retreated as much as 0.80%, to USD 6,666 a tonne on the London Metal Exchange, while the metal for delivery in December on the Shanghai Futures Exchange lost 0.90% to 47,470 yuan ($7,737) a tonne.

First Published: Mon, September 29 2014. 12:06 IST
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