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Weak global cues drag down copper futures 0.17%

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Press Trust of India New Delhi
Copper prices declined 0.17 per cent to Rs 330.80 per kg in futures trade today as speculators trimmed positions amid a weak trend overseas.

At Multi Commodity Exchange, copper for delivery in far-month June eased 55 paise, or 0.17 per cent, to Rs 330.80 per kg in a business turnover of 145 lots.

Likewise, the metal for delivery in April shed 40 paise, or 0.12 per cent, to Rs 325.90 per kg in 703 lots.

Experts said that apart from subdued demand at domestic spot markets, weakness in base metals pack at the London Metal Exchange (LME) after Chinese exchanges stepped up efforts to cool speculation in some commodities, weighed on metal prices here.
 

Meanwhile, copper for delivery in three months retreated 1.2 per cent to USD 4,903 a tonne at LME.

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First Published: Apr 28 2016 | 11:07 AM IST

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