Business Standard

Copper weakens more than 1% on global cues

Besides, subdued spot market demand also put pressure

Press Trust of India New Delhi
Copper futures for April fell by Rs 4.15, or 1.11%, to Rs 370.85 per kg in 19,590 lots.     

At the Multi Commodity Exchange (MCX), the June contract traded lower by Rs 4.10, or 1.08%, to Rs 376.60 per kg in 2,083 lots.

Prices fell as speculators reduced their positions amid subdued domestic demand.

Weak global trend after data that showed manufacturing growth was slowing in China, world's biggest user of metals, affected the trade globally.

Besides, subdued spot market demand also put pressure.

On the London Metal Exchange (LME), the three-month contract dropped as much as 1% to $6,868 per tonne.

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First Published: Apr 23 2013 | 2:27 PM IST

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