Copper in reverse gear on demand worries

Copper in reverse gear on demand worries

02/06/2017 14:16

Copper futures slipped over 1 per cent during afternoon trade in the domestic market on Friday as investors and speculators exited their positions in the industrial metal on concerns over weakening demand and oversupply.

Besides, investors shifted their focus towards equities from hard commodities tracking robust US and European industrial data.

At the MCX, copper futures for June 2017 contract is trading at Rs 363.80 per kg, down by 1.34 per cent, after opening at Rs 367.25, against a previous close of Rs 368.75. It touched the intra-day low of Rs 362.75 (at 14:10 hours).

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