ET:Copper futures fall 0.42 pc on weak global cues
NEW DELHI: Copper prices fell by 0.42 per cent to Rs 464.45 per kg in futures trade today as speculators offloaded their positions, taking negative cues from overseas markets.
Sentiment turned bearish after copper fell for the first time in five days in global markets on concern that the first US government shutdown in 17 years may curb demand.
At the Multi Commodity Exchange, copper for delivery in November fell by Rs 1.95, or 0.42 per cent to Rs 464.45 per kg in business turnover of 5,578 lots.
Similarly, the metal for delivery in February traded lower by Rs 1.35, or 0.28 per cent to Rs 474.90 per kg in 252 lots.
Market analysts said speculators offloaded their positions in tandem with a weak global trend, which mainly led to decline in copper prices at futures trade.
Meanwhile, copper lost 0.2 per cent to USD 7,285 a tonne on the London Metal Exchange.
