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Copper futures shed 0.16% on muted demand

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Press Trust of India New Delhi
Copper futures fell 0.16 per cent to Rs 451.95 per kg today as speculators booked profits at prevailing high levels amid low demand in the spot market.

However, a firm trend in metal at the London Metal Exchange (LME) capped the fall.

At the Multi Commodity Exchange, copper for delivery in April declined 75 paise, or 0.16 per cent, to Rs 455.75 per kg in a business turnover of three lots.

The metal for delivery in February shed 65 paise, or 0.14 per cent, to Rs 451.95 per kg in a business volume of 1,985 lots.

Analysts attributed the fall to offloading of positions by speculators at prevailing higher levels coupled with subdued spot demand.
 

Globally, at the LME, copper for three-month delivery ended up 0.4 per cent at USD 7,068 per tonne in yesterday's trade, boosted by a falling dollar and another bullish projection for global economic growth.

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First Published: Jan 23 2018 | 11:05 AM IST

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