Copper futures drop for 4th day amid subdued demand

New Delhi, Nov 19 (PTI) Copper prices extended losses for the fourth straight session in futures trade on Wednesday amid muted demand in the domestic market.

On the Multi Commodity Exchange, copper futures for the December contract decreased by Rs 20, or 0.37 per cent, to Rs 5,356 per kilogram in a business turnover of 11,972 lots.

However, copper prices gained in the overseas markets. On the London Metals Exchange (LME), copper futures rose by USD 53.30, or 0.50 per cent, to USD 10,751.30 per tonne.

Similarly, the red metal futures on Comex also went up by 0.32 per cent to USD 4.98 per pound.

"The LME base metal is attempting a mild rebound, though gains are likely to remain capped as traders are awaiting the delayed US jobs report and key signals on the Fed's policy outlook," brokerage firm Kotak Securities said in a market note.

An expert, said: "Traders are likely to stay cautious ahead of key US data releases later this week, which could provide further impetus for industrial metals." PTI HG HG ANU ANU