NEW DELHI, Aug 18: Copper futures traded a shade lower at Rs 336.30 per kg in futures trade today as speculators reduced their positions amidst weak global cues.
At the Multi Commodity Exchange, copper for delivery in August shed 20 paise, to Rs 336.30 per kg in a business turnover of 691 lots.
Similarly, the metal for delivery in November was down 10 paise, to Rs 342.25 per kg in 31 lots.
Analysts attributed the fall in copper futures to a weak global trend where industrial metals weakened amid concern a slowing economy in China will hurt demand in the world’s biggest consumer and as a strong dollar made metals less attractive as an asset class.
Moreover, subdued demand at spot market also put pressure on the prices of the metal, they said.
Meanwhile, copper for delivery in three months dropped as much as 0.5 per cent at the London Metal Exchange. (PTI)
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