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Copper declines 0.3% on global cues, subdued demand

Speculators trim positions amid weak global trend

Press Trust of India New Delhi
Copper prices fell 0.28% to Rs 439.20 per kg in futures trade today as speculators trimmed positions amid a weakening global trend.

At the Multi Commodity Exchange, copper for delivery in November fell by Rs 1.25, or 0.28%, to Rs 439.20 per kg in business turnover of 22 lots.

August copper shed Rs 1.05, or 0.24%, to Rs 432.90 per kg in 902 lots.

Analysts said apart from a weakening trend in base metals pack in global markets, sluggish demand in the spot market mainly kept pressure on copper prices at futures trade.

Meanwhile, copper slid 0.4% to $7,092 a tonne on the London Metal Exchange.

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First Published: Jul 15 2014 | 11:06 AM IST

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