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Copper futures fall 1.24% on sluggish demand

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Press Trust of India New Delhi
Copper prices fell 1.24 per cent to Rs 411.70 per kg in futures trade today as speculators trimmed positions, driven by sluggish demand in the spot market.

The exchange opened for the evening session as it remained closed in the morning for 'Muharram'.

At the Multi Commodity Exchange, copper for delivery in November fell by Rs 5.15, or 1.24 per cent to Rs 411.70 per kg in business turnover of 5,675 lots.

Similarly, the metal for delivery in far-month February 2015 contract declined by Rs 4.45, or 1.05 per cent to Rs 417.50 per kg in 213 lots.

Market analysts said sluggish demand from the consuming industries in the spot market mainly put pressure on copper prices at futures trade.
 

Meanwhile, copper for three month delivery was little changed at USD 6,726.25 per metric tonne on the London Metal Exchange.

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First Published: Nov 04 2014 | 6:55 PM IST

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