Copper futures were trading lower during the morning trade in the domestic market on Monday as investors and speculators trimmed their positions in the industrial metal as firm dollar weighed on Copper prices and hopes of economic stimulus in China kept a floor under the market. The global equity markets rallied on hopes of more monetary stimulus from the central banks and the US dollar strengthening as traders unwound safe-haven
trades in the wake of the failed coup in Turkey, weighed down the sentiment for copper futures. At the MCX, copper futures for August 2016 contract is trading at Rs 332.05 per kg, down by 0.58 per cent, after opening at Rs 332.90, against a previous close of Rs 334. It touched the intra-day low of Rs 331.30 (At 10:18 hours).
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