Copper futures fell during late noon trade in the domestic market on Tuesday as investors and speculators cut positions in the industrial metal as improved
China inflation data dimmed the case for fresh policy easing, dampening demand prospects.
China’s producer prices fell 1.7 per cent, year on year, in July 2016, marking the smallest decline in nearly two years, while consumer inflation stood at 2 per cent, matching analysts’ estimates.
At the MCX, copper futures for August 2016 contract is trading at Rs 318.8 per kg, down by 0.58 per cent, after opening at Rs 320, against a previous close of Rs 320.65. It touched the intra-day low of Rs 318.8. (At 15:39 PM).
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