Copper softens 0.23% on weak demand
Traders trim positions on sluggish offtake in spot market
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Copper prices moved down by 0.23 per cent to Rs 439.60 per kg in futures trade today as speculators reduced positions amid subdued demand in the spot market.
At the Multi Commodity Exchange, copper for delivery in November shed Re 1, or 0.23 per cent, to Rs 439.60 per kg in a business turnover of 10 lots.
August copper traded lower by 75 paise, or 0.17 per cent, to Rs 433.70 per kg in 795 lots.
Market analysts said the fall in copper prices at futures trade was due to offloading of positions by speculators on a weak trend at spot market.
Meanwhile, copper for delivery in three months was little changed at $7,130 a metric tonne at the London Metal Exchange.
At the Multi Commodity Exchange, copper for delivery in November shed Re 1, or 0.23 per cent, to Rs 439.60 per kg in a business turnover of 10 lots.
August copper traded lower by 75 paise, or 0.17 per cent, to Rs 433.70 per kg in 795 lots.
Market analysts said the fall in copper prices at futures trade was due to offloading of positions by speculators on a weak trend at spot market.
Meanwhile, copper for delivery in three months was little changed at $7,130 a metric tonne at the London Metal Exchange.
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First Published: Jul 09 2014 | 12:08 PM IST