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Copper futures fall on weak global cues

China cues, weak demand from Eurozone countries push prices

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

Tracking a weakening global trend, copper futures prices today declined by 0.19% to Rs 450.95 per kg as speculators offloaded their positions.

At the MCX, copper for delivery in August declined by 85 paise, or 0.19%, to Rs 450.95 per kg, with a trade volume of 50 lots.

The June contract lost 80 paise, or 0.18%, to Rs 447.05 per kg, with a business turnover of 1,376 lots.

Market analysts attributed the fall in copper futures to a weakening global trend on concerns that improving manufacturing in China may delay easing monetary policies, curbing demand for the metal in the world's largest consumer of metal.

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

The three-month copper contract on the London Metal Exchange declined by 1% to $8,357.50 a tonne on the London Metal Exchange.

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First Published: May 02 2012 | 11:01 AM IST

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