BS reported that amid a weak trend in the global market and subdued spot demand, copper continued its slide with prices falling by 0.15% in futures trade today as speculators trimmed positions.
At the Multi Commodity Exchange, copper for delivery in June fell marginally by 60 paise or 0.15% to INR 407.70 per kilogram in business turnover of 13,660 lots. Copper for delivery in far month August contracts fell by a similar margin to trade at INR 412.90 per kilogram in a turnover of 1,335 lots.
Analysts attributed the fall in copper futures to weak global cues after Federal Reserve Chairman Ben Bernanke said bond purchases may be reduced later this year and as China's manufacturing is slowing.
Globally, copper for delivery in three months fell 1.0% to USD 6,888.25 per tonne on the London Metal Exchange, the lowest since May 3, while the metal for delivery in October on the Shanghai Futures Exchange fell 2% to CNY 49,910 per tonne.
