 "Copper down 0.4% on global cues")
Copper futures prices fell by 0.49% to Rs 449.20 per kg today as speculators trimmed their positions amid a weak trend in the global markets after manufacturing gauge for China declined.
At the Multi Commodity Exchange, copper for delivery in February declined by Rs 2.20, or 0.49%, to Rs 449.20 per kg in business turnover of 815 lots.
Similarly, the metal for delivery in April fell by Rs 1.65, or 0.36%, to Rs 452.80 per kg in 357 lots.
Globally, copper for delivery in three-months traded 0.70% lower at USD 7,134.25 per tonne on the LME, while on the Shanghai Futures Exchange, the metal for delivery in May fell 0.4% to 50,500 yuan (USD 8,304) a tonne.
At the Multi Commodity Exchange, copper for delivery in February declined by Rs 2.20, or 0.49%, to Rs 449.20 per kg in business turnover of 815 lots.
Similarly, the metal for delivery in April fell by Rs 1.65, or 0.36%, to Rs 452.80 per kg in 357 lots.
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Analysts attributed the decline to a weak trend at the London Metal Exchange (LME) after a manufacturing gauge for China declined more than estimated, damping demand prospects in the world's biggest user of metals.
Globally, copper for delivery in three-months traded 0.70% lower at USD 7,134.25 per tonne on the LME, while on the Shanghai Futures Exchange, the metal for delivery in May fell 0.4% to 50,500 yuan (USD 8,304) a tonne.