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Copper prices fell by 0.34 per cent to Rs 414.35 per kg in futures trading today, extending yesterday’s losses, as speculators off-loaded their positions after metal softened in London on concerns of slow down in global economic growth.
At the Multi Commodity Exchange, copper for delivery in June declined by Rs 1.40, or 0.34 per cent to Rs 414.35 per kg, with a business turnover of 69 lots. It had closed 0.47 per cent down at Rs 415.75 per kg in the previous session.
Similarly, the metal for delivery in August lost Rs 1.40 or 0.33 per cent to Rs 419.50 per kg with an open interest of 69 lots.
Market analysts said besides a weakening global trend, on concerns that global economic growth may slow down, dampened the demand for the metal.
Meanwhile, copper for three-month delivery fell by 0.6 per cent to $9,140.25 a tonne on the London Metal Exchange.
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