NEW DELHI, June 15: Copper futures fell 0.52 per cent to Rs 384.10 per kg today as speculators trimmed positions amid a weak trend in global markets.
At Multi Commodity Exchange, copper for delivery in August declined Rs 2, or 0.52 per cent, to Rs 384.10 per kg in a business turnover of 20 lots.
The metal for delivery in June fell Rs 2.05, or 0.51 per cent, to Rs 378.75 per kg in a business volume of 103 lots.
Analysts said a weakening trend in base metals at the London Metal Exchange (LME) amid speculation that China needs further steps to revive economic growth mainly weighed.
Meanwhile, copper has lost more than 9 per cent since reaching a 2015 high last month amid concern that demand is cooling in China, the world’s largest user.
The country’s exports fell for the third month in May and inflation slowed to the least since January, data showed last week, indicating there’s room for further stimulus to spur an economy that grew the least in six years last quarter.
Globally, copper for delivery in three months traded 0.4 per cent lower at USD 5,886.50 per tonne at LME. (PTI)
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