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Copper falls by 1.3% on weak global cues

Speculative selling amid a weak trend in base metals overseas affected prices

Press Trust of India New Delhi
Copper futures fell by 1.36% to Rs 353.75 per kg today on speculative selling amid a weak trend in base metals overseas.

At the Multi Commodity Exchange, copper for delivery in August tumbled by 4.95, or 1.36%, to Rs 353.75 per kg in a turnover of 1,284 lots.

The metal for delivery in far-month November was trading down by Rs 4.90, or 1.34%, to Rs 360.40 per kg in a business volume of 68 lots.

Analysts said besides subdued demand at domestic spot markets, weakness in the base metals pack at the London Metal Exchange (LME) after Greece was ordered to enact reforms or leave the euro, fuelling concern about global economic growth, mainly led to a fall in copper prices at futures trade here.
 
Globally, copper for delivery in three months dropped 1.4% to $5,510.50 per tonne at the LME.

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First Published: Jul 13 2015 | 11:13 AM IST

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