Commodities

Copper futures down on weak trend

PTI New Delhi | Updated on June 02, 2011

Copper prices fell by Rs 2.25 to Rs 418 per kg in futures trading today after speculators off-loaded their positions, largely in tune with a weakening trend at the London Metal Exchange.

At the Multi Commodity Exchange, copper for delivery in November declined by Rs 2.25 or 0.54 per cent to Rs 418 per kg, with a business turnover of two lots.

Similarly, the metal for delivery in June lost Rs 1.80 or 0.44 per cent to Rs 406.80 per kg, with an open interest of three lots.

Market analysts said a weakening global trend on mounting concern that the global economic recovery may be faltering as manufacturing slows from China to the US, mainly put pressure on the copper prices at futures trade here today.

Meanwhile, copper for three-month delivery fell 0.7 per cent to $9,035 a tonne on the London Metal Exchange.

Published on June 02, 2011

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