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Copper sheds 0.4% on global cues

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 3:11 AM IST

Copper prices fell 0.40% to Rs 433.10 per kg in futures trade today after participants reduced positions amid a weak trend in the overseas markets.

In addition, sluggish demand at domestic spot markets also put pressure on the futures trade.

At the Multi Commodity Exchange, thw April copper fell by Rs 1.75, or 0.40% to Rs 433.10 per kg in a turnover of 3,720 lots.

The June delivery shed Rs 1.70, or 0.39% to Rs 437.70 per kg in a turnover of 183 lots.

Analysts said positions offloaded by speculators driven by a weakening trend at the London Metal Exchange (LME) on concerns of high inventories in Shanghai.

Meanwhile, copper for three-month delivery lost 0.6% to 8,520 dollar a metric tonne at the LME in early trade today.

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First Published: Mar 20 2012 | 1:38 PM IST

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