Copper futures drop 0.78% on muted demand, global cues 26/09/2016 14:13

Copper futures drop 0.78% on muted demand, global cues
26/09/2016 14:13

Copper futures were trading lower during the afternoon trade in the domestic market on Monday as participants remained on the sidelines in the industrial metal on low demand from consuming industries in the domestic spot markets amid a weak trend in base metals overseas. Besides, offloading of positions by traders on the back of a weak trend in global markets and fall in demand from domestic consuming industries, influenced copper prices at futures trade. At the MCX, copper futures for November 2016 contract is trading at Rs 325.25 per kg, down by 0.78 per cent, after opening at Rs 327, against a previous close of Rs 327.80. It touched the intra-day low of Rs 325.15 (at 14:11 hours).