Copper futures fall 0.15 pc on overseas cues

NEW DELHI, June 20:  Amid a weak trend in the global market and subdued spot demand, copper continued its slide with prices falling by 0.15 per cent in futures trade today as speculators trimmed positions.
At the Multi Commodity Exchange, copper for delivery in June fell marginally by 60 paise, or 0.15 per cent, to Rs 407.70 per kg in business turnover of 13,660 lots.
The metal for delivery in far-month August contracts fell by a similar margin to trade at Rs 412.90 per kg in a turnover of 1,335 lots.
Analysts attributed the fall in copper futures to weak global cues after Federal Reserve Chairman Ben Bernanke said bond purchases may be reduced later this year and as China’s manufacturing is slowing.
Globally, copper for delivery in three months fell 1.0 per cent, to USD 6,888.25 a tonne on the London Metal Exchange, the lowest since May 3, while the metal for delivery in October on the Shanghai Futures Exchange fell 2 per cent to 49,910 yuan (USD 8,140) a tonne. (PTI)


Please enter your comment!
Please enter your name here