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This is an archive article published on January 13, 2012

Copper futures weaken on global cues

Copper futures prices fell by Rs 4.10,or 0.98 per cent,to Rs 412.70 per kg.

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Copper futures prices fell by Rs 4.10,or 0.98 per cent,to Rs 412.70 per kg today largely in tandem with a weakening trend overseas.

At the Multi Commodity Exchange,copper for delivery in February lost Rs 4.10,or 0.98 per cent,to Rs 412.70 per kg,with a trading volume of 14,045 lots.

The April contract shed Rs 3.90,or 0.93 per cent,to Rs 416.40 per kg,with a trading volume of 1,157 lots.

Analysts said a weakening trend in base metals at the London Metal Exchange (LME) as a rally to the highest price in over two months cooled demand from China,the world’s consumer of the metal.

Meanwhile,prices of copper for delivery in three months fell by 0.9 per cent to USD 7,936 per tonne at the LME in early trade today.

 

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