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Copper futures decline 0.19% on global cues

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Press Trust of India New Delhi
Last Updated : Dec 29 2014 | 5:40 PM IST
Copper prices fell by 0.19 per cent to Rs 403.90 per kg in futures trade today as speculators trimmed positions amid a weak global trend.
Sluggish demand at spot markets from consuming industries further fuelled the downward trend.
At the Multi Commodity Exchange, copper for delivery in April declined by 75 paise, or 0.19 per cent, to Rs 402.90 per kg in a business turnover of 133 lots.
Similarly, the metal for delivery in February shed 65 paise, or 0.16 per cent, to Rs 399.80 per kg in 11,381 lots.
Analysts said the fall in copper prices at futures trade was largely in tune with a weak trend in global markets where it traded at almost four-year low after data showed industrial profits in China fell, fuelling speculation that demand from the largest metals user will weaken, mainly weighed on copper prices at futures trade.
Meanwhile, copper for delivery in three months fell 0.7 per cent to USD 6,256.50 a metric tonne on the London Metal Exchange.

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First Published: Dec 29 2014 | 5:40 PM IST

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