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Copper futures fall on weak global cues

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Press Trust of India New Delhi
Last Updated : Jul 18 2016 | 11:28 AM IST
Copper futures fell 0.51 per cent to Rs 332.30 per kg today as speculators trimmed their positions amid a weak trend in global markets.
Muted demand from consuming industries at domestic spot market also put pressure on prices.
At the Multi Commodity Exchange, copper for delivery in August contracts declined by Rs 1.70 or 0.51 per cent to Rs 332.30 per kg in a business turnover of 1,817 lots.
The metal for delivery in November fell Rs 1.70 or 0.50 per cent to Rs 338.80 per kg in a business volume1 of 57 lots.
Analysts said a weak trend overseas following a seasonal slowdown in China's demand for metal and rising inventories led to fall in copper prices at futures trade here.
Besides, sluggish demand at domestic spot market too weighed on metal prices at futures trade here.
Globally, copper for delivery in three-month retreated 0.5 per cent to USD 4,893 per tonne at the London Metal Exchange.

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First Published: Jul 18 2016 | 11:28 AM IST

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