NEW DELHI, Aug 26: Copper futures fell 0.34 per cent to Rs 335.70 per kg today as speculators trimmed their positions amid weak trend in global markets.
Moreover, muted demand at domestic spot markets also put pressure on prices.
At the Multi Commodity Exchange, copper for delivery in August declined by Rs 1.15, or 0.34 per cent to Rs 335.70 per kg in a business turnover of 389 lots.
The metal for delivery in far-month November fell by Rs 1.05 or 0.31 per cent to Rs 340 per kg in a business volume of 53 lots.
Analysts said a weak trend in industrial metals in global market mainly weighed on copper futures here.
China cut interest rates for the fifth time since November to help bolster the country’s slowing economy and plunging stock market.
At the London Metal Exchange, copper for three month delivery fell 0.8 per cent to USD 5,024 per tonne. (PTI)
&&&&
Trending Now
E-Paper
Follow our WhatsApp channel