NEW DELHI, May 28: Tracking a weak global trend, copper prices fell by 0.59 per cent to Rs 404.90 per kg in futures trade today as speculators offloaded their positions.
At the Multi Commodity Exchange, copper for delivery in June fell Rs 2.40, or 0.59 per cent, to Rs 404.90 per kg in business turnover of 2,731 lots.
Similarly, the metal for delivery in August traded lower by Rs 2.35, or 0.57 per cent, to Rs 410.15 per kg in 203 lots.
Analysts attributed the fall in copper futures to weak global cues as metal declined for the third straight day on concern that slowing economic growth in China may crimp demand in the world’s biggest consumer of industrial metals.
Meanwhile, copper fell 1.1 per cent to USD 7,220 a tonne on the London Metal Exchange, while delivery in September on the Shanghai Futures Exchange fell by 1 per cent to 51,90 yuan (USD 8,491) per tonne. (PTI)
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