 "Copper falls by 0.3% on weak global cues")
Copper prices fell 0.35% to Rs 344.80 per kg in futures trade today as speculators offloaded their positions after the metal headed for a third monthly loss in global market.
At the Multi Commodity Exchange, copper for delivery in far-month November contracts was trading lower by Rs 1.20, or 0.35%, to Rs 344.80 per kg in business turnover of seven lots.
Similarly, the metal for delivery in August traded lower by Rs 1.05, or 0.31%, to Rs 337.90 per kg in 766 lots.
Meanwhile, copper for delivery in three months was little changed at $5,264 per tonne at the LME, while dropped 0.4% in Shanghai. Prices are 8.7% lower this month, and fell to six-year low on July 27.
At the Multi Commodity Exchange, copper for delivery in far-month November contracts was trading lower by Rs 1.20, or 0.35%, to Rs 344.80 per kg in business turnover of seven lots.
Similarly, the metal for delivery in August traded lower by Rs 1.05, or 0.31%, to Rs 337.90 per kg in 766 lots.
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Analysts attributed the fall in copper futures to a weak trend in metal at the London Metal Exchange (LME) as a surging dollar and speculation that demand in China remained weak.
Meanwhile, copper for delivery in three months was little changed at $5,264 per tonne at the LME, while dropped 0.4% in Shanghai. Prices are 8.7% lower this month, and fell to six-year low on July 27.