ET:Copper futures fall 0.35 pc on weak global cues
NEW DELHI: Tracking a weak global trend and subdued domestic demand, copper prices fell by 0.35 per cent to Rs 409.40 per kg in futures trade today as speculators reduced positions.
At the Multi Commodity Exchange, copper for delivery in this month fell Rs 1.45, or 0.35 per cent, to Rs 409.40 per kg in business turnover of 6,426 lots.
The metal for delivery in August also fell by a similar margin to trade at Rs 414.85 per kg in 538 lots.
Analysts attributed the fall in copper futures to weak global cues on concern that central banks including the US Federal Reserve will scale back measures aimed at spurring economic growth.
Meanwhile, copper for delivery in three months fell 1.4 per cent, to USD 7,065 a tonne on the London Metal Exchange.
