NEW DELHI, June 3: Amid a weak trend in the global market and profit-booking by speculators, copper prices fell by 0.67 per cent in futures trade today.
At the Multi Commodity Exchange, copper for delivery in June fell by Rs 2.80, or 0.67 per cent, to Rs 413.15 per kg in business turnover of 1,510 lots.
The metal’s prices for delivery in far-month August shed Rs 2.65, or 0.63 per cent, to trade at Rs 415.50 per kg in a turnover of 35 lots.
Analysts attributed the fall in copper futures to weak global cues as a private gauge of China’s manufacturing missed estimates, curbing demand prospects from the world’s biggest user of the metals.
Globally, copper for delivery in three months retreated as much as 0.60 per cent, to USD 6,892 a tonne on the London Metal Exchange, while the metal for delivery in August on the Shanghai Futures Exchange traded little changed at 48,630 yuan (USD 7,784) a tonne. (PTI)
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