NEW DELHI, Aug 25: Tracking a weak global trend, copper futures traded a tad lower at Rs 334.25 per kg today as speculators offloaded positions.
Furthermore, subdued demand at domestic spot market pushed down metal prices.
At Multi Commodity Exchange, copper for delivery in August shed 25 paise, or 0.07 per cent, to Rs 334.25 per kg in a business turnover of 765 lots.
Analysts attributed the fall in copper futures to weak global cues as a global sell-off in stock markets exacerbated a collapse in metals and other commodities on concern that Chinese support measures are not enough to stop a slowdown from deepening.
Meanwhile, data last week showed the country’s manufacturing fell to the lowest in more than six years.
Globally, copper dropped three per cent to USD 4,903 per tonne at the London Metal Exchange in yesterday’s trade. (PTI)
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