NEW DELHI, Aug 17: Copper prices moved down by 0.54 per cent to Rs 342.50 per kg in futures trade today as speculators reduced their exposure amid a weak trend overseas and low demand in the spot market.
Copper for delivery in far-month November shed Rs 1.85, or 0.54 per cent, to Rs 342.80 per kg in a business turnover of 67 lots at the Multi Commodity Exchange.
Likewise, the metal for delivery in August traded lower by Rs 1.80, or 0.53 per cent, to Rs 336.80 per kg in 1,966 lots.
Analysts said the fall in copper prices at futures trade was largely in tune with a weak trend at the London Metal Exchange (LME) as industrial metals retreated before US manufacturing, inflation and housing data this week that may give more clues on the timing of a Federal Reserve rate rise.
Besides, low demand from domestic industries too had negative impact, they said.
Meanwhile, copper for delivery in three months retreated 0.6 per cent to USD 5,132.50 a metric tonne at the LME, while at Shanghai, metal Lost 0.5 per cent. (PTI)
Trending Now
E-Paper
Follow our WhatsApp channel