ET reported that tracking a weak global trend, copper prices fell by INR 2.30 to INR 415.40 per kilogram in futures trading as speculators offloaded their positions.

Also, subdued demand from consuming industries in the spot market further dampened the sentiment. At the Multi Commodity Exchange, copper for delivery in August fell by INR 2.30 or 0.55% to INR 415.40 per kilogram with a business turnover of 19,920 lots.

Similarly, the metal for delivery in November declined by INR 2.20 or 0.52% to INR 421.10 per kilogram in 1,849 lots.

Marketmen said that speculators offloaded positions in tandem with a weak global trend which mainly led to a fall in copper futures. Meanwhile, copper fell 0.3% to USD 7,514.50 per tonne on the London Metal Exchange.

Source - Economic Times.indiatimes.com

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