Copper futures fell over 1 per cent during afternoon trade in the domestic market on Thursday as investors and speculators cut down their bets in the industrial metal after political uncertainty in the US dampened expectations that President Trump would be able to boost infrastructure spending.
Further, investors hopes were diminished for US reform and rethinking strategies premised on Donald Trump’s economic growth promises, as he faced his loudest criticism yet over possible collusion between his election campaign and Russia. At the MCX, copper futures for June 2017 contract is trading at Rs 358.95 per kg, down by 1.16 per cent, after opening at Rs 361, against a previous close of Rs 363.15. It touched the intra-day low of Rs 356.80 (at 14:21 hours).
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