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Copper weakens on global cues

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Press Trust of India New Delhi
Last Updated : Jan 21 2013 | 2:31 AM IST

Copper prices traded marginally lower at Rs 430.65 per kg in futures trade today as speculators offloaded their positions on the back of a weak global trend.

Trading sentiment turned bearish after copper declined in global markets as signs of a slowdown in China and lingering concerns about Europe's debt crisis, dampened the demand outlook for industrial metals.

At the Multi Commodity Exchange, the June copper traded lower by 65 paise, or 0.15%, to Rs 430.65 per kg, with a business turnover of 579 lots.

The April metal weakened by Rs 35 paise, or 0.08%, to Rs 426.15 per kg, with a business turnover of 11,515 lots.

Market analysts attributed the decline in copper futures to a weak trend in overseas markets.

They said sluggish domestic demand also influenced the copper prices, they said.

Meanwhile, copper for delivery in three months fell 0.9% to USD 8,420.50 a tonne on the London Metal Exchange.

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First Published: Mar 12 2012 | 1:53 PM IST

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