Business Standard

Copper futures fall 0.29 pc on muted demand

Image

Press Trust of India New Delhi
Copper futures fell 0.29 per cent to Rs 442.15 per kg today as speculators trimmed positions to book profits amid a weak trend in global markets.

Muted demand from consuming industries at domestic spot market also put pressure on prices.

At the Multi Commodity Exchange, copper for delivery in February declined by Rs 1.30, or 0.29 per cent, to Rs 442.15 per kg in a business turnover of 3 lots.

The metal for delivery in November fell Rs 1.25, or 0.28 per cent, to Rs 437.65 per kg in a business volume of 728 lots.

Analysts said muted demand at the domestic physical markets, a weak trend overseas, led to fall in copper prices at futures trade here.
 

Besides, sluggish demand at domestic spot market weighed on metal prices at futures trade here.

Globally, copper for delivery in three-month slid 0.5 per cent, to USD 6,667 per tonne at the London Metal Exchange (LME).

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 09 2017 | 11:22 AM IST

Explore News