MTECHTIPS;- Copper softens on weak global cues

MTECHTIPS;- Copper softens on weak global cues

MTECHTIPS-Copper prices moved down by 0.17 per cent to Rs 437.80 per kg as speculators cut down their holdings amid a weak trend in base metals overseas. Besides, low demand at the domestic spot market weighed on metal prices. At the Multi Commodity Exchange, copper to be delivered this month eased by 75 paise, or 0.17 per cent at Rs 437.80 per kg in a business turnover of 958 lots. Analysts said besides subdued demand at the domestic physical market, a weak trend in the base metals pack overseas as China-US trade tensions stoking worries over the outlook for global economic growth, led to the fall in copper prices at futures trade. Globally, at the London Metal Exchange (LME), copper three-month delivery eased 0.1 per cent to USD 6,232 per tonne.

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