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Copper down 0.7% on weak global cues

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Press Trust of India New Delhi

Copper prices fell by 0.67% to Rs 365.90 per kg in futures trade today, in tandem with a weak trend on the London Metal Exchange (LME).

At the Multi Commodity Exchange, November copper fell by Rs 2.45, or 0.67%, to Rs 365.90 per kg in 7,160 lots.

The February contract lost Rs 2.35, or 0.63%, to Rs 370.60 per kg, clocking a trading volume of 561 lots.

Meanwhile, three-month copper prices fell by 0.80% to $7,385.25 a tonne on the LME.

Analysts said the weak trend on the LME on concerns that the slowing Chinese economy and deepening debt crisis in Europe may hurt global demand for metals mainly put pressure on copper prices in futures trade here.

 

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First Published: Oct 19 2011 | 11:19 AM IST

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