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Copper down in futures trade on global cues

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Press Trust of India New Delhi
Last Updated : Jan 21 2013 | 4:14 AM IST

Copper futures today fell marginally to Rs 341.55 per kg as traders indulged in reducing positions, tracking weak global cues.

Subdued demand for the metal at spot markets also put pressure on the copper futures here.

At the Multi Commodity Exchange counter, copper for delivery in August shed Rs 0.40, or 0.12 per cent, to Rs 341.55 per kg, with a turnover of 40,437 lots. It had ended 0.64 per cent lower at Rs 341.95 per kg in previous session.
    
Similarly, the metal for delivery in November also moved down by Rs 0.35, or 0.10 per cent, to Rs 344.25 per kg, with a turnover of 6,493 lots.
    
Analysts said weakening trend at the London Metal Exchange mainly put pressure on the metal prices at futures market here. Copper traded lower after weaker-than-projected the US economic data signaled slower industrial metals demand.
    
Copper for three-month delivery traded 0.80 per cent down at $7,367 per tonne after falling 2.1 per cent yesterday, the biggest intra-day drop since July 16.

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First Published: Aug 04 2010 | 11:43 AM IST

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