Copper falls by 0.4% on global cues

Copper prices fell 0.43% to Rs 351.10 per kg in futures market today as speculators indulged in reducing positions after it weakened in global market.

At the Multi Commodity Exchange, copper for delivery in November traded lower by Rs 1.50, or 0.43%, to Rs 351.10 per kg in a business turnover of 1,753 lots.

Also, metal for delivery in far-month February next year was trading Rs 1.10, or 0.31% down at Rs 356.90 per kg in 43 lots.

Market analysts said weak trend in overseas markets where where copper retreated from over three week highs as investors awaited a key US jobs report due later today, weighed on metal futures here.

Meanwhile, copper on the London Metal Exchange lost as much as 0.8%.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel