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Copper softens on weak global cues

Copper softens on weak global cues

New Delhi, Mar 27 (PTI) Copper prices moved down by 0.16 per cent to Rs 437.55 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. On the Multi Commodity Exchange, copper to be delivered this month eased by 70 paise, or 0.16 per cent, to Rs 437.55 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 led to the fall in copper prices at futures trade. Globally, on the London Metal Exchange, copper three-month delivery eased 0.16 per cent to USD 6,330 per tonne. PTI ADI HRS