NEW DELHI, Mar 18: Amid weak global cues and subdued domestic demand, copper prices fell by 1.89 per cent to Rs 415.85 per kg in futures trade today on speculators reducing their positions.
At the Multi Commodity Exchange, copper for delivery in April fell by Rs 8, or 1.89 per cent, to Rs 415.85 per kg in business turnover of 10,061 lots.
Similarly, the metal for delivery in June traded lower by Rs 7.75, or 1.80 per cent, to Rs 421.95 per kg in 665 lots.
Analysts attributed the fall in copper futures to weak global trend as an unprecedented levy on bank deposits in Cyprus threatens to plunge Europe back into crisis, curbing demand for metals.
Besides, subdued demand in the spot market also put pressure, they said.
Meanwhile, copper for delivery in three months slumped as much as 2.7 per cent to USD 7,545.75 a tonne, the lowest level since November 9 on the London Metal Exchange. (PTI)
Trending Now
E-Paper
Follow our WhatsApp channel