NEW DELHI, Apr 18: Extending a weak trend, copper futures prices today fell sharply by 2.62 per cent as speculators engaged in trimming their positions, after the metal sank to its lowest level since October, 2011 in the global markets.
At the Multi Commodity Exchange, copper for delivery in June declined by Rs 10.15, or 2.62 per cent, to Rs 377.75 per kg in business turnover of 1,525 lots.
The metal for delivery in April fell by Rs 9.90, or 2.60 per cent, to Rs 371.50 per kg in 14,971 lots.
Globally, copper for delivery in three-months plunged as much as 4 per cent to USD 6,800 per tonne on the London Metal Exchange, its lowest since October, 2011.
Analysts said the weak trend overseas on demand concern weighed on the copper prices at the futures trade here as outlook for the global economy continued to weaken.
Besides, subdued domestic demand also put pressure on the metal’s prices. (PTI)
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