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Copper weakens on global cues, subdued domestic demand

Prices down 0.2% from previous close on the MCX

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 3:44 AM IST

Copper futures fell by 0.20% to Rs 422.15 per kg today after traders reduced positions, taking weak cues from global markets.

Sluggish domestic demand at spot markets also put pressure on the metal prices.

At the MCX, copper for delivery in June lost 85 paise, or 0.20%, to Rs 422.15 per kg, with a trading volume of 25,433 lots.

The metal for delivery in August also fell by similar margin to trade at Rs 426.70 per kg, with a trading volume of 2,208 lots.

The fall in copper futures prices was mostly due to a weakening trend at the London Metal Exchange (LME) and subdued domestic demand, said analysts.

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First Published: May 31 2012 | 1:49 PM IST

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