 "Copper down 1.6% on global cues")
Copper prices fell by 1.57% to Rs 414.05 per kg in futures trade today as speculators trimmed positions amid weak cues from global markets and subdued domestic demand.
At the Multi Commodity Exchange, copper for delivery in far-month November fell by Rs 6.60, or 1.57%, to Rs 414.05 per kg in a business turnover of 1,632 lots.
Market analysts said the fall in copper futures was mostly in line with a weakening trend overseas before data tomorrow that may show manufacturing slowed for a second month in China, the biggest consumer.
Globally, copper for delivery in three months retreated as much as 1% to USD 6,768.50 a tonne on the London Metal Exchange. Prices are down 8% this year, the most among the six main metals on the exchange.
At the Multi Commodity Exchange, copper for delivery in far-month November fell by Rs 6.60, or 1.57%, to Rs 414.05 per kg in a business turnover of 1,632 lots.
Market analysts said the fall in copper futures was mostly in line with a weakening trend overseas before data tomorrow that may show manufacturing slowed for a second month in China, the biggest consumer.
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Besides, low demand from domestic consuming industries too weighed on prices, they said.
Globally, copper for delivery in three months retreated as much as 1% to USD 6,768.50 a tonne on the London Metal Exchange. Prices are down 8% this year, the most among the six main metals on the exchange.