Copper futures slips 0.31 pct

Copper futures prices fell by 0.31 per cent to Rs 436.80 per kg on Friday, tracking weak trend at the London Metal Exchange.

Written by Agencies

March 25, 2011 12:43 IST

Copper futures prices fell by 0.31 per cent to Rs 436.80 per kg on Friday, tracking weak trend at the London Metal Exchange on demand concerns amid speculations that the global economic recovery may slow.

At the Multi Commodity Exchange, copper for delivery in April declined by Rs 1.35, or 0.31 per cent, to Rs 438.15 per kg, with a business volume of four lots.

Similarly, the metal for delivery in June shed Rs 1.35, or 0.30 per cent, to Rs 442.30 per kg, with a trade volume of one lot.

Traders said fall in copper prices at the London Metal Exchange (LME) on speculations of economic slowdown amid renewed concern about Europe’s credit crisis and weaker-than-expected US economic data.

Meanwhile, at the LME, copper for three-month delivery fell by 0.5 per cent to USD 9,670 a metric ton.

This article was first uploaded on March twenty-five, twenty eleven, at forty-three minutes past twelve in the night.