Copper futures melt on global cues
Copper futures prices fell by 1.62 per cent to Rs 420.85 per kg today, as speculators indulged in off-loading their positions, taking weak cues from the global market .
At the Multi Commodity Exchange , copper for delivery in June declined by Rs 6.95, or 1.62 per cent, to Rs 420.85 per kg, with a business volume of 1,091 lots.
Similarly, the metal for delivery in April lost Rs 7.60, or 1.79 per cent, to Rs 416 per kg, with a trade volume of 13,650 lots.
Market analysts said offloading by speculators, triggered by a weak global trend, as the unfolding disaster in Japan continued to rattle markets, kept pressure on the copper prices at futures trade here.