Copper futures were trading with modest losses during morning trade in the domestic market on Wednesday as traders eyed stimulus measures from global policymakers to help contain the fallout of Brexit that has roiled financial markets worldwide.
Meanwhile, a faster pace of contraction in a US regional factory gauge signaled a worsening manufacturing slowdown in the world’s biggest economy that threatens to curb metal demand. The Richmond Fed Manufacturing Index fell to -7 in June from -1 in May, with a reading below 0 signaling contraction.
At the MCX, Copper futures for June 2016 contract is trading at Rs 324.55 per kg, down by 0.14 per cent, after opening at Rs 324.05, against a previous close of Rs 325. It touched the intra-day low of Rs 324.05 (At 10:55 AM).