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Copper falls on weak global cues

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Press Trust of India New Delhi
Last Updated : Jan 21 2013 | 2:31 AM IST

Tracking a weakening global trend, copper prices declined by 0.31% to Rs 430.85 per kg in futures trade today as speculators offloaded their positions.

At the Multi Commodity Exchange, June copper declined by Rs 1.35, or 0.31%, to Rs 430.85 per kg, with a trade volume of 7,075 lots.

The June delivery lost Rs 1.25, or 0.29%, to Rs 435.65 per kg, with a business turnover of 422 lots.

Market analysts attributed the fall in copper futures to a weakening global trend on concerns that demand from China, the world's largest consumer, has weakened as prices recorded the worst monthly performance in a year.

Also, subdued domestic demand also put pressure on the copper futures prices here.

Meanwhile, copper for three-month delivery fell 0.2% to $8,482.25 a tonne on the London Metal Exchange.

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First Published: Mar 19 2012 | 11:38 AM IST

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