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Copper softens on weak global cues

Copper prices fell 0.7 per cent to Rs 450.90 per kg as speculators cut down their holdings amid a weak trend in base metals overseas. Low demand at the domestic spot market also weighed on metal prices.

At the Multi Commodity Exchange, copper to be delivered in March eased by Rs 3.20, or 0.7 per cent, to Rs 450.90 per kg with a business turnover of 14,663 lots.

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, analysts said.

Globally, copper three-month delivery at the London Metal Exchange (LME) eased 0.69 per cent to USD 6,423.50 per metric tonne.




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