Business Standard

Copper down 2.6% on subdued demand

Prices fell as speculators engaged in trimming their positions

Press Trust of India New Delhi
Copper futures for June declined by Rs 10.15, or 2.62%, to Rs 377.75 per kg in 1,525 lots.     

At the Multi Commodity Exchange (MCX), the April contract fell by Rs 9.90, or 2.60%, to Rs 371.50 per kg in 14,971 lots.

Prices fell as speculators engaged in trimming their positions.

Subdued domestic demand also put pressure on metal's prices.

On the London Metal Exchange (LME), the three-month contract plunged as much as 4% to $6,800 per tonne, lowest since October 2011.

Weak overseas trend due to demand concern weighed on copper futures trade here as outlook for global economy continued to weaken.

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First Published: Apr 18 2013 | 2:02 PM IST

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