Copper futures prices decline 0.21% on global cues

Nov 20 2012, 14:24 IST
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SummaryCopper prices declined by 0.21 per cent to Rs 426.10 per kg in futures trade today.

Copper prices declined by 0.21 per cent to Rs 426.10 per kg in futures trade today as speculators offloaded their positions, taking a negative cues from overseas markets.

At the Multi Commodity Exchange, copper for delivery in November declined by 90 paise, or 0.21 per cent, to Rs 426.10 per kg in business turnover of 10,197 lots.

Similarly, the metal for delivery for the February contract fell by a same margin to Rs 431.90 per kg in 1,019 lots.

Market analysts attributed the decline in copper futures to weak global trend as France lost its top credit rating with Moody's Investors Service and a survey in Chile lowered price estimates for next year.

Meanwhile, copper for delivery in three months fell 0.7 per cent to USD 7,746 a metric tonne on the London Metal Exchange.

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