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Copper futures soften on low demand, global cues

Press Trust of India  |  New Delhi 

Copper prices fell 0.10 per cent to Rs 362.10 per kg in futures trade today as participants cut short their positions amid muted demand at the domestic spot markets and weak trend overseas.

At the Multi Commodity Exchange, copper for delivery in June shed 35 paise or 0.10 per cent to Rs 362.10 per kg in a business turnover of 741 lots.

The metal for delivery in far-month August traded lower by 25 paise or 0.07 per cent to Rs 366.05 per kg in 8 lots.

Analysts attributed the fall in copper futures to a weak trend at the domestic spot markets due to easing demand from consuming industries and the metal's weakness overseas.

Globally, copper for delivery in three months ended marginally down by 0.04 per cent to USD 5,611 per tonne at Metal Exchange in yesterday's trade.

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

First Published: Wed, May 17 2017. 11:02 IST