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Copper down 0.29% on weak global cues

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 3:02 AM IST

Copper futures fell marginally by 0.29% to Rs 411.75 per kg today after speculators trimmed their positions, after a weak trend overseas.

At the Multi Commodity Exchange, the February contract for copper fell by Rs 1.20, or 0.29%, to Rs 411.75 per kg, with a trading volume of 1,968 lots.

The April contract lost Rs 1.05, or 0.25%, to Rs 417.85 per kg, clocking a trading volume of 482 lots.

Analysts said the fall in copper prices in futures trade was mostly attributed to reports of a weak trend in metal at the London Metal Exchange (LME) on China demand concerns, which will lead to a rise in stockpiles.

Meanwhile, at the LME, copper for delivery in three months fell as much as 0.3% to $8,363.25 per tonne in early trade today.

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First Published: Feb 24 2012 | 12:48 PM IST

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