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Copper futures soften on global cues, low demand

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New Delhi: Amid a weak trend in the global market and easing spot demand, copper prices fell 0.65 per cent to Rs 361.10 per kg in futures trade today. At Multi Commodity Exchange, copper for delivery in November shed Rs 2.35, or 0.65 per cent, to Rs 361.10 per kg in a business turnover of 2,105 lots. The metal for delivery in far-month February next year traded lower by Rs 2.15, or 0.58 per cent, to Rs 366.90 per kg in 44 lots. Analysts attributed the fall in copper futures to a weak trend in base metals at the London Metal Exchange (LME) after the Federal Reserve’s delay in increasing interest rates signalled concerns over rising international risks and the recent market turmoil. Globally, copper for delivery in three months fell 0.9 per cent to USD 5,340 at LME.

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