Copper futures slide 0.40% as traders trim position : 16/10/2018
Copper futures slide 0.40% as traders trim position
16/10/2018 12:23
Copper futures were trading lower during the noon trade in the domestic market on Tuesday amid muted demand at the domestic spot markets and weak global cues.
Analysts said offloading of positions by traders, tracking subdued demand at the domestic spot markets as some industrial metals fell due to low demand and weak overseas cues, mainly weighed on copper prices at futures trade.
At the MCX, copper futures for November 2018 contract is trading at Rs 455.20 per kg, down by 0.40 per cent, after opening at Rs 455.90, against a previous close of Rs 457.05. It touched the intra-day low of Rs 454.25 (at 12:30 hours).
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Copper futures slide 0.40% as traders trim position
16/10/2018 12:23
Copper futures were trading lower during the noon trade in the domestic market on Tuesday amid muted demand at the domestic spot markets and weak global cues.
Analysts said offloading of positions by traders, tracking subdued demand at the domestic spot markets as some industrial metals fell due to low demand and weak overseas cues, mainly weighed on copper prices at futures trade.
At the MCX, copper futures for November 2018 contract is trading at Rs 455.20 per kg, down by 0.40 per cent, after opening at Rs 455.90, against a previous close of Rs 457.05. It touched the intra-day low of Rs 454.25 (at 12:30 hours).
