ET:Copper futures extend losses, shed 0.35 pc on global cues
NEW DELHI: Continuing its yesterday's slide, copper prices fell by 0.35 per cent to Rs 440.45 per kg in futures trade today as speculators engaged in offloading positions, triggered by a weak trend overseas.
At Multi Commodity Exchange, copper for delivery in November declined by Rs 1.55, or 0.35 per cent, to Rs 440.45 per kg, with a business turnover of 3,426 lots.
Similarly, the metal for delivery in February shed Rs 1.45, or 0.32 per cent, to Rs 445.40 per kg, with a business turnover of 285 lots.
Marketmen said offloading of positions by participants in line with a weak global trend on concern that stimulus measures from central banks will fail to revive economies amid a deteriorating European debt crisis and a deepening slowdown in China, the world's largest consumer of the metal, put pressure on copper futures here.
Meanwhile, copper fell 2 per cent to USD 8,110 a tonne, the lowest in almost two weeks on the London Metal Exchange.
