Copper futures decline on global cues, subdued demand
Copper futures traded 0.73 per cent lower at Rs 419.65 per kg today as speculators trimmed positions, tracking a weak trend overseas and muted spot demand.
At the Multi Commodity Exchange, copper for delivery in November declined by Rs 3.10 or 0.73 per cent to Rs 419.65 per kg in business turnover of 1,785 lots.
Metal for delivery in far-month February next year fell by a similar margin to trade at Rs 423.95 per kg in 13 lots.
Analysts attributed the fall in copper futures to weak trend at the London Metal Exchange (LME) where copper and other base metals weakened.
Besides, muted demand at the domestic spot markets weighed on prices, they added.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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