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Copper futures fall 0.87 pc on global cues

Press Trust of India  |  New Delhi 

Copper prices declined by 0.87 per cent to Rs 400.05 per kg in futures trade today as participants indulged in trimming their positions, tracking a weak trend in select base metals overseas.

Besides, muted spot demand from consuming industries fuelled the downtrend.

At the Multi Commodity Exchange, copper for delivery in far-month April shed Rs 3.50, or 0.87 per cent to Rs 400.05 per kg in a business turnover of 12 lots.

Similarly, the metal for delivery in February traded lower by Rs 3.45, or 0.86 per cent to Rs 396.15 per kg in 1,136 lots.

Analysts attributed the fall in copper futures to weak trend in after recent gains and muted demand at the domestic spot market.

At the Metal Exchange (LME) copper fell as much as 3.4 per cent after surging 20 per cent in November, its best month in a decade.

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

First Published: Fri, December 02 2016. 11:22 IST