Copper declines in futures trade on global cues

Copper prices declined by 0.14% to Rs 406.55 per kg in futures trade today as speculators reduced their positions, triggered by a weakening global trend.

Sluggish demand at the domestic spot market also put some pressure on the copper prices at futures trade.

At the Multi Commodity Exchange, copper for delivery in August fell by 55 paise, or 0.14%, to Rs 406.55 per kg, with a business turnover of 1,660 lots.  

Similarly, the metal for delivery in June traded lower by 50 paise, or 0.12%, to Rs 401.10 per kg in 22,036 lots.

Market analysts said besides a weakening trend at the London Metal Exchange, a subdued trend at the domestic spot markets put pressure on the copper futures prices.

Meanwhile, copper for three-month delivery fell by 0.5% to $8,891 a tonne on the London Metal Exchange.

Source: http://www.business-standard.com/india/news/copper-declines-in-futures-tradeglobal-cues/138170/&tp=on