Copper futures slide 0.23% on weak global cues
Copper futures traded 0.23 per cent lower at Rs 416.40 per kg today as participants indulged in reducing positions, tracking a weak trend in base metals overseas.
Besides, subdued demand from consuming industries in the spot market weighed on prices.
At the Multi Commodity Exchange, copper for delivery in far-month November declined by 95 paise or 0.23 per cent to Rs 416.40 per kg in a business turnover of 61 lots.
The metal for delivery in current month too fell by 70 paise, or 0.17 per cent, to trade at Rs 410.35 per kg in a business volume of 592 lots.
Globally, copper for three-month delivery declined 0.3 per cent to settle at USD 6,379 per tonne on the London Metal Exchange (LME) in yesterday's trade.
Analysts said trimming of positions by traders on the back of a weak trend in metal overseas in a reaction to a stronger dollar and a series of disappointing economic reports from China, mainly weighed on copper futures here.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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