ET:Copper marginally down in futures trade on global cues
NEW DELHI: Amid a weak trend overseas and sluggish spot demand, copper prices fell marginally by 0.11 per cent to Rs 464.35 per kg in futures trade today.
At the Multi Commodity Exchange, copper for delivery in November fell by 50 paise, or 0.11 per cent, to Rs 464.35 per kg in business turnover of 6,193 lots.
Similarly, the metal for delivery in February traded lower by 30 paise, or 0.06 per cent, to Rs 473.65 per kg in 214 lots.
Analysts attributed the fall in copper futures to a weak global trend where it dropped to almost one-week low on speculation that the US Federal Reserve will commit to reducing stimulus next week.
Meanwhile, copper fell 0.50 per cent to trade at 7,138 dollar a tonne on the London Metal Exchange, the lowest since September 6, while at Shanghai Futures Exchange, metal for delivery in December declined 0.7 per cent to 51,700 yuan ($ 8,450) a tonne.
