 "Copper weakens in futures trade on global cues, subdued demand")
Amid weak global cues and subdued domestic demand, copper prices fell 0.36 per cent to Rs 431.50 per kg in futures trade today on speculators reducing their positions.
At the Multi Commodity Exchange, copper for delivery in November fell by Rs 1.55, or 0.36 per cent, to Rs 431.50 per kg in a business turnover of 451 lots.
Similarly, the metal for delivery in February next year traded lower by Rs 1.40, or 0.31 per cent, to Rs 443.50 per kg in 50 lots.
Meanwhile, copper for delivery in three months dropped as much as 0.8 per cent to USD 6,921 per tonne on the London Metal Exchange, the lowest intra-day level since August 7.
At the Multi Commodity Exchange, copper for delivery in November fell by Rs 1.55, or 0.36 per cent, to Rs 431.50 per kg in a business turnover of 451 lots.
Similarly, the metal for delivery in February next year traded lower by Rs 1.40, or 0.31 per cent, to Rs 443.50 per kg in 50 lots.
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Analysts attributed the fall in copper futures to weak global trend as US home builder confidence held at a four-month low, stoking concern that demand from the second-biggest user will slow.
Meanwhile, copper for delivery in three months dropped as much as 0.8 per cent to USD 6,921 per tonne on the London Metal Exchange, the lowest intra-day level since August 7.