Copper futures slipped over 1 per cent during afternoon trade in the domestic market on Tuesday as investors and speculators exited their positions in the industrial metal on signs of slowing growth in China and the United States.
US services sector activity slowed last month as new orders tumbled, while China’s economy likely to remain on a stable footing last month, supported by solid gains in trade and investment as economic ties with the US take a positive turn and infrastructure spending cushions domestic growth.
At the MCX, copper futures for June 2017 contract is trading at Rs 360.20 per kg, down by 1.27 per cent, after opening at Rs 364.40, against a previous close of Rs 364.85. It touched the intra-day low of Rs 358.85.
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