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Copper falls by 0.3% on weak global cues

Speculators trimmed their positions amid a weak trend in global markets

Press Trust of India New Delhi
Last Updated : May 14 2015 | 11:50 AM IST
Copper futures fell 0.32% to Rs 415.70 per kg today as speculators trimmed their positions amid a weak trend in global markets.

Besides, low demand from consuming industries at domestic spot market, also put pressure on prices.

At the Multi Commodity Exchange, copper for delivery in June contracts declined by Rs 1.35, or 0.32%, to Rs 415.70 per kg in a business turnover of 869 lots.

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The metal for delivery in August fell by Rs 1.25, or 0.30%, to Rs 420.40 per kg in a business volume of five lots.

Analysts said a weak trend in copper overseas and sluggish demand at domestic spot market, mainly weighed on metal prices at futures trade here.

Globally, copper for delivery in three-months traded little changed at $6,408 per tonne at the London Metal Exchange, while the metal for delivery in June in Shanghai slipped 0.7% to 45,930 yuan per tonne.

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First Published: May 14 2015 | 10:57 AM IST

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