Copper Futures Fall on Weak Demand
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Copper futures decline due to subdued demand and global market caution. December contract dips on MCX. LME and Comex also see price drops.
New Delhi, Nov 21 (PTI) Copper future prices on Friday fell Rs 3.45 to Rs 1,001.30 per kilogram amid subdued demand and a cautious tone in global markets.
On the Multi Commodity Exchange, copper futures for December contract dipped by Rs 3.45, or 0.34 per cent, to Rs 1,001.30 per kg in a business turnover of 6,895 lots.
Analysts attributed the decline in copper prices to lower bets by participants.
Copper prices were also under pressure in the global markets. On the London Metals Exchange (LME), the red metal futures fell by USD 46.90, or 0.44 per cent, to USD 10,680.70 per tonne while Comex copper futures slipped by 0.28 per cent to USD 4.94 an pound.
On the Multi Commodity Exchange, copper futures for December contract dipped by Rs 3.45, or 0.34 per cent, to Rs 1,001.30 per kg in a business turnover of 6,895 lots.
Analysts attributed the decline in copper prices to lower bets by participants.
Copper prices were also under pressure in the global markets. On the London Metals Exchange (LME), the red metal futures fell by USD 46.90, or 0.44 per cent, to USD 10,680.70 per tonne while Comex copper futures slipped by 0.28 per cent to USD 4.94 an pound.
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