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Copper softens on weak global cues

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Press Trust of India Press Trust of India
Last Updated : Jan 20 2013 | 1:11 AM IST

Copper prices fell by Rs 1.80, or 0.57 per cent, to Rs 342.45 per kg in futures market today after tracking weak trend in overseas markets.

At the Multi Commodity Exchange counter, copper for delivery in November contract fell by Rs 1.80, or 0.57 per cent, to Rs 342.45 per kg, with a turnover of one lot.

The metal for delivery in August contract also fell by Rs 1.90, or 0.56 per cent, to Rs 339.05 per kg, with a turnover of nine lots. It ended 0.70 per cent down at Rs 340.95 per kg in the previous session.

Analysts attributed the weakness in copper futures to losses in copper at the London Metal Exchange as weaker-than -forecast economic data from the US dimmed recovery prospects in the world's largest user of the metal.

Meanwhile, copper for three-month declined 0.3 per cent to $7,286 a metric tonne on the London Metal Exchange.

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First Published: Aug 20 2010 | 12:48 PM IST

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