Weak global cues and declines in equity bourses led to heavy derailment of Copper prices. Testing the highs of 359 in domestic markets on 3 April 2010, the prices are down nearly 13% and are now at Rs 311.50 per kg on Tuesday. It is an Rs 5 or 1.6% fall for the intra day in the red metal.
Shanghai closed sharply lower on Wednesday. Shanghai Copper benchmark contract closed trading at 56820 yuan per tonne, down 1220 yuan.
COMEX Copper, which showed some resilience in the early morning hours, is now at $ 3.1265 per ounce down 52 cents.
Debt crisis continued after renewed concerns in the markets that the other countries can spread wings in Euro zone.
