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Copper down 0.3% on global cues

Weak rupee limited the downside

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Press Trust of India New Delhi
Last Updated : Jan 21 2013 | 4:10 AM IST

Tracking a weak trend overseas, copper prices declined by Rs 1.25 to Rs 439.35 per kg in futures trade today as speculators offloaded their positions.

At the MCX, copper for delivery in August declined by Rs 1.25, or 0.28%, to Rs 439.35 per kg in business turnover of 2,101 lots.

Similarly, the metal for delivery in the June contract shed Rs 1.20, or 0.27%, to Rs 435.35 per kg in 26,032 lots.

Analysts said the fall in copper prices at futures trade was due to a weakening global trend as political tensions in Greece fuelled concerns that Europe's debt crisis may worsen, dimming the demand outlook for the metals.

The recent French elections rattled markets quite a bit, triggering off a sell off across the bourses, analysts said.

Meanwhile, copper for three-month metal delivery lost 0.7% to $8,037 a tonne on the London Metal Exchange.

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First Published: May 09 2012 | 1:45 PM IST

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