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Copper down on weak global cues

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Press Trust of India New Delhi

Tracking a weak trend in overseas markets, copper prices fell by Rs 1.85 to Rs 435.55 per kg in futures trade today.

Also, subdued demand at spot markets also kept pressure on the metal prices at futures trade.

At the Multi Commodity Exchange, the April contract for copper fell by Rs 1.85, or 0.40%, to Rs 435.55 per kg in business turnover of 10,790 lots.

The June contract shed Rs 1.65, or 0.37%, to Rs 440.10 per kg in 713 lots.

Market analysts said the fall in copper prices at futures trade was mostly attributed to a weak trend in global markets besides sluggish demand at domestic spot markets.

Meanwhile, copper for delivery in three-month declined 0.8% to $8,471 a tonne on the London Metal Exchange.

 

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First Published: Mar 28 2012 | 1:18 PM IST

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