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Copper declines 0.21% on global cues

Subdued demand at domestic spot markets also put pressure on the metal prices

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Press Trust of India New Delhi

In range-bound movements, copper traded a shade lower today largely in line with a weakening trend overseas.

Besides, subdued demand at domestic spot markets also put pressure on the metal prices.

At the Multi Commodity Exchange, the April contract eased by 25 paise, or 0.02%, to Rs 448.20 per kg in a business turnover of 234 lots.

The February contract fell by similar margin to Rs 444.20 per kg, clocking a business volume of 4,290 lots.

Analysts attributed fall in copper prices at futures trade to a weakening global trend as US manufacturing unexpectedly shrank and a budget stand-off intensified besides subdued domestic demand.

Meanwhile, copper for delivery in three months fell 0.4% to $7,970 a metric tonne on the London Metal Exchange.

 

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First Published: Dec 04 2012 | 12:10 PM IST

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