NEW DELHI, Aug 13: Copper prices fell by 0.51 per cent to Rs 425.70 per kg in futures trade today on speculators reducing their positions amidst weak global cues.
At the Multi Commodity Exchange, copper for delivery in August fell by Rs 2.20, or 0.51 per cent, to Rs 425.70 per kg in a business turnover of 2,368 lots.
Similarly, the metal for delivery in far-month November contract was down by Rs 2.10, or 0.48 per cent, to Rs 434.30 per kg in 141 lots.
Analysts attributed the fall in copper futures to weak global trend ahead of industrial production data from China, the world’s biggest user of industrial metals.
Moreover, subdued demand in the spot markets have also put pressure on the prices of the metal, they said.
Meanwhile at the London Metal Exchange delivery in three months was little changed at USD 6,963 a tonne. At Shanghai, metal for delivery in October lost 0.3 per cent to 49,650 yuan (USD 8,064) a tonne. (PTI)
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