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Copper declines 0.8% on global cues

February contract falls 0.77%

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Press Trust of India New Delhi

Tracking a weak global trend, copper prices declined by Rs 3.60 to Rs 453.10 per kg in futures trade today as speculators trimmed their positions.

At the Multi Commodity Exchange, copper for delivery in November declined by Rs 3.60, or 0.79%, to Rs 453.10 per kg, with a business turnover of 15,300 lots.

February copper shed Rs 3.55, or 0.77%, to Rs 457.95 per kg, with a business volume of 1,163 lots.

Marketmen said positions offloaded by speculators in tandem with a weak global trend led to the decline in copper prices at futures trade.

Meanwhile, copper for delivery in three months dropped 0.7% to $8,321 a tonne on the London Metal Exchange.

 

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First Published: Sep 17 2012 | 2:22 PM IST

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