Copper futures decline 0.35% on global cues

Amid weak global trend and subdued domestic demand,copper prices traded lower by 0.35 per cent to Rs 436.35 per kg.

Written by Agencies | Published: October 12, 2012 5:31:31 pm

Amid weak global trend and subdued domestic demand,copper prices traded lower by 0.35 per cent to Rs 436.35 per kg in futures trade today on reduced offtake by speculators.

At the Multi Commodity Exchange,copper for delivery in November declined by Rs 1.55,or 0.35 per cent,to Rs 436.35 per kg in business turnover of 14,819 lots. Similarly,the metal for delivery in February shed Rs 1.45,or 0.33 per cent,to Rs 441.95 per kg in 847 lots.

Market analysts said apart from weak global trend,subdued domestic demand mainly helped copper prices to trade lower at futures trade.

Meanwhile,copper retreated 0.3 per cent to USD 8,214 a tonne on the London Metal Exchange.

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