You are here: Home » PTI Stories » National » News
Business Standard

Copper futures fall on weak global cues, muted demand

Press Trust of India  |  New Delhi 

Copper futures fell 0.30 per cent to Rs 434 per kg today as speculators trimmed positions amid a weak trend at the Metal Exchange (LME) amid subdued demand at the domestic markets.

At the Multi Commodity Exchange, copper for delivery in far-month February next year contracts declined by Rs 1.30 or 0.30 per cent to Rs 434 per kg in a business turnover of 12 lots.

The metal for delivery in November fell Rs 1.15 or 0.27 per cent to Rs 429.70 per kg in a business volume1 of 1,389 lots.

Analysts said besides a weak trend in base metals overseas as inventories in LME warehouses jumped and the dollar steadied at higher levels, muted demand from consuming industries at the domestic markets, kept pressure on copper prices in futures trade here.

Globally, for three-month delivery ended 1.21 per cent down at USD 6,668 per gonne at the LME yesterday.

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

First Published: Wed, September 13 2017. 11:02 IST