Copper futures slide 0.07% on muted demand
By PTI | Published: 14th November 2017 11:54 AM |
New Delhi, Nov 14 (PTI) Copper prices fell by 0.07 per cent to Rs 450.60 per kg in futures trade today as participants indulged in reducing positions amid subdued demand from consuming industries in the spot market.
At the Multi Commodity Exchange, copper for current month declined by 30 paise, or 0.07 per cent, to Rs 450.60 per kg in a business turnover of 875 lots.
On similar lines, the metal for delivery in far-month February next year traded lower by 10 paise, or 0.02 per cent, to Rs 456.40 per kg in 25 lots.
Analysts said offloading of positions by traders due to a weak trend at the domestic spot markets amid muted demand from consuming industries, led to the fall in copper prices at futures trade here.
Besides, China's industrial value-added output expanded 6.2 per cent year-on-year in October, slowing from 6.6 per cent growth in September, too weighed on prices, they added.
China is the world's biggest consumer of base metals.
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This is unedited, unformatted feed from the Press Trust of India wire.