ET:Copper futures fall 0.26% on global cues, subdued demand
NEW DELHI: Amid weak global cues and subdued domestic demand, copper prices fell by 0.26 per cent to Rs 457.75 per kg in futures trade today on speculators reducing their positions.
At the Multi Commodity Exchange, copper for delivery in far-month April fell by Rs 1.20, or 0.26 per cent, to Rs 457.75 per kg in business turnover of 231 lots.
Similarly, the metal for delivery in February traded lower by Rs 1.15, or 0.25 per cent, to Rs 451.70 per kg in 6,955 lots.
Analysts attributed the fall in copper futures to weak global trend as China's manufacturing contracted and the US Federal Reserve reduced economic stimulus and subdued spot demand.
Meanwhile, copper for delivery in three months slumped as much as 0.20 per cent to USD 7,110 a tonne, the lowest level since December 9 on the London Metal Exchange.
