 "Copper sheds 1.3% on global cues")
Copper futures traded a shade lower at Rs 401.60 per kg today as speculators reduced positions amid a weak trend overseas and low demand in the spot market.
At the Multi Commodity Exchange, copper for delivery in November shed Rs 1.30, or 0.08 per cent, to Rs 401.60 per kg in a business turnover of 1,154 lots.
February copper traded lower by Rs 1.25, or 0.06 per cent, to Rs 412.10 per kg in 390 lots.
Besides, low demand from domestic industries had negative impact, they said.
Meanwhile, copper for delivery in three months retreated to $6,588.50 per metric tonne at the LME, while at Shanghai, metal for delivery in January next year dropped 1.3 per cent to 47,200 yuan ($7,693) a tonne.
At the Multi Commodity Exchange, copper for delivery in November shed Rs 1.30, or 0.08 per cent, to Rs 401.60 per kg in a business turnover of 1,154 lots.
February copper traded lower by Rs 1.25, or 0.06 per cent, to Rs 412.10 per kg in 390 lots.
Also Read
Analysts said the fall in copper prices at futures trade was largely in tune with a weak trend in base metals at the London Metal Exchange (LME) before durable goods data from the US, the second-largest metals consumer.
Besides, low demand from domestic industries had negative impact, they said.
Meanwhile, copper for delivery in three months retreated to $6,588.50 per metric tonne at the LME, while at Shanghai, metal for delivery in January next year dropped 1.3 per cent to 47,200 yuan ($7,693) a tonne.