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Copper falls by 0.9% on global cues

Subdued demand at domestic spot markets also affected prices

Press Trust of India New Delhi
Copper prices fell by 0.89% to Rs 450.35 per kg in futures trade today amid a weak overseas trend and subdued spot demand.

At the Multi Commodity Exchange, copper for delivery in November fell by Rs 4.05, or 0.89%, to Rs 450.35 per kg in business turnover of 1,741 lots.
 
Similarly, the metal for delivery in February, next year traded lower by Rs 3.35, or 0.72%, to Rs 461.70 per kg in 74 lots.
 
Analysts attributed the fall in copper futures to a weak global trend on concern that the US political impasse could lead to a recession in the world's biggest economy and subdued demand at domestic spot markets.
 
    
Meanwhile, copper for delivery in three months traded lower at $7,180 a tonne at the London Metal Exchange.

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First Published: Oct 04 2013 | 11:48 AM IST

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