NEW DELHI, Feb 19: Taking weak cues from global market, copper futures traded a shade lower at Rs 461.35 per kg today as speculators offloaded bets. Furthermore, subdued demand at domestic spot market pushed down metal prices.
At the Multi Commodity Exchange, copper for delivery in the current month shed 15 paise, or 0.03 per cent, to Rs 461.35 per kg, in a business turnover of 1,121 lots.
Analysts attributed the fall to a weak trend in base metals at the London Metal Exchange (LME) as a resurgent dollar dragged down prices form one-month highs hit the session before the Lunar New Year holidays reduced liquidity.
Globally, at the LME, copper for delivery in three-month slipped by 0.6 per cent to USD 7189 per tonne, erasing gains from the previous session when prices hit the highest since January 15 at USD 7,253. (PTI)
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