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Copper futures soften on global cues, muted demand

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Press Trust of India New Delhi

Copper prices moved down by 0.28 per cent to Rs 460.85 per kg in futures trading today as speculators trimmed positions amid weak global cues.

Besides, sluggish demand from consuming industries at the domestic spot markets fuelled the downtrend.

At the Multi Commodity Exchange, copper for delivery in July fell by Rs 1.30, or 0.28 per cent to Rs 460.85 per kg in a business turnover of 13 lots.

Likewise, the metal for delivery in June declined by Rs 1.20, or 0.26 per cent to Rs 455.85 per kg in 718 lots.

Analysts said cutting down of positions by traders in line with a weak trend overseas, weighed on copper prices at futures trade.

 

Globally, copper for three-month delivery fell 0.2 per cent to USD 6,840.00 per metric tonne on the London Metal Exchange.

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First Published: Jun 01 2018 | 12:10 PM IST

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