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07-Sep2018

Copper futures edge down on easing demand

Copper futures edged down on MCX as participants cut down their bets on the back of easing demand at the spot market. Besides, weakness in copper prices at the London Metal Exchange (LME) on concerns over demand as a trade war between the US and top industrial metals consumer China intensifies also fuelled the downtrend.

The contract for November delivery was trading at Rs 420.70, down by 0.87% or Rs 3.70 from its previous closing of Rs 424.40. The open interest of the contract stood at 21729 lots.

The contract for February delivery was trading at Rs 426.85, down by 0.81% or Rs 3.50 from its previous closing of Rs 430.35. The open interest of the contract stood at 361 lots on MCX.


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