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Copper futures down on weak global cues, subdued demand

LME futures fall ahead of Chinese import data

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 3:24 AM IST

Tracking a weak trend in global markets, copper prices fell by 0.80 paisa to Rs 421.95 per kg in futures trade today.

At the MCX, copper for delivery in April fell by Rs 3.40, or 0.80%, to Rs 421.95 per kg, with a business turnover of 3,976 lots.

The June contract shed Rs 3.15, or 0.79%, to Rs 426.75 per kg, with an open interest of 627 lots.

Market analysts said the fall in copper futures prices was mostly due to a weak trend in metals on the London Metal Exchange ahead of data that may show imports by China, the biggest consumer of base metals, fell in March.

Three-month copper on the London Metal Exchange dropped as much as 1.2% to $8,093 per tonne, while the metal for July delivery on Shanghar Futures Exchange traded lower at 57,620 yuan a tonne.

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First Published: Apr 23 2012 | 1:09 PM IST

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