Copper futures traded down on MCX as investors and speculators stayed cautious over booking fresh positions in the industrial metal after services activity in China grew at a weaker pace last month, signaling a slowdown in the world’s second biggest economy, dimming the demand outlook for industrial metals.
The contract for June delivery was trading at Rs 406.10, down by 0.09% or Rs 0.35 from its previous closing of Rs 406.45. The open interest of the contract stood at 21437.00 lots.
The contract for August delivery was trading at Rs 409.05, down by 0.17% or Rs 0.70 from its previous closing of Rs 409.75. The open interest of the contract stood at 904.00 lots on MCX.
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