 "Copper down by 0.5% on weak global cues")
Copper futures traded 0.46% lower at Rs 313.45 per kg in futures trade today as speculators reduced their positions amid weak global cues.
At the Multi Commodity Exchange, copper for delivery in far-month August shed Rs 1.45, or 0.46%, to Rs 313.45 per kg, in a business turnover of five lots.
Similarly, the metal for delivery in June was down Rs 1.30, or 0.42%, to Rs 309.15 per kg in 862 lots.
Moreover, subdued demand at spot market also put pressure on the prices of the metal, they said.
Globally, copper for delivery in three months dropped as much as 1.2% to settle at $4,617 per tonne at the London Metal Exchange (LME) in yesterday's trade.
Copper stockpiles in warehouses tracked by the LME rose 1.7%, the most since May 3, to 154,350 tonnes.
At the Multi Commodity Exchange, copper for delivery in far-month August shed Rs 1.45, or 0.46%, to Rs 313.45 per kg, in a business turnover of five lots.
Similarly, the metal for delivery in June was down Rs 1.30, or 0.42%, to Rs 309.15 per kg in 862 lots.
Also Read
Analysts attributed the fall in copper futures to a weak global trend where metal weakened after a Chinese factory gauge contracted and the OECD warned that the global recovery is set to stall this year.
Moreover, subdued demand at spot market also put pressure on the prices of the metal, they said.
Globally, copper for delivery in three months dropped as much as 1.2% to settle at $4,617 per tonne at the London Metal Exchange (LME) in yesterday's trade.
Copper stockpiles in warehouses tracked by the LME rose 1.7%, the most since May 3, to 154,350 tonnes.