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Copper fall by 0.6% on weak global cues

Subdued spot demand also affected prices

Press Trust of India New Delhi
Last Updated : Sep 09 2014 | 11:08 AM IST
Amidst a weak trend in the global market and subdued spot demand copper prices fell 0.56% to Rs 427.15 per kg in futures trade today.

At the Multi Commodity Exchange, copper for delivery in far-month November shed Rs 2.40, or 0.56%, to Rs 427.15 per kg business turnover of 1,017 lots.

Analysts attributed the fall in copper futures to weak global cues as the dollar climbed, curbing demand for commodities as an investment.

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Besides, subdued demand at domestic spot markets weighed on the prices, they said.

Globally, copper for delivery in three months fell 0.3%, to $6,972 a tonne on the London Metal Exchange while in Shanghai, metal for delivery in November was little changed at 49,800 yuan ($8,119) a tonne.

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First Published: Sep 09 2014 | 10:45 AM IST

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