ET:Copper futures fall 0.88 pc on weak global cues
NEW DELHI: Tracking a weak global trend, copper prices fell by 0.88 per cent to Rs 405.15 per kg in futures trade today as speculators offloaded their positions.
At the Multi Commodity Exchange, copper for delivery in June fell Rs 3.45, or 0.88 per cent, to Rs 405.15 per kg in business turnover of 4,593 lots.
Similarly, the metal for delivery in August traded lower by Rs 3.35, or 0.81 per cent, to Rs 409.65 per kg in 285 lots.
Analysts attributed the fall in copper futures to weak global cues even as US retail sales increased in April, indicating growth in the second-largest user may be stronger than expected.
Meanwhile, copper fell 0.4 per cent to USD 7,382.50 a tonne on the London Metal Exchange, while delivery in September on the Shanghai Futures Exchange fell by 0.40 per cent to 53,210 yuan (USD 8,662) per tonne.
